Uber, Waymo Reach Self-Driving Car Settlement

Uber and Google sibling company Waymo have reached a settlement on a lawsuit stemming from a self-driving car technology dispute.

As a part of the agreement, Uber will not use Waymo technology in its automated vehicles and will pay Waymo 0.34 percent of Uber’s equity at a valuation of $72 billion for the company, which comes out to roughly $245 million.

Prior to the trial, Waymo had sought a settlement of more than $1 billion, which Uber rejected.

Read the full article at http://thehill.com/policy/technology/373148-uber-waymo-reach-self-driving-car-settlement