Uber pay $245 million in shares to Alfabet's Waymo to settle legal dispute

Waymo received US$245 million as a 'penitent money' by Uber to resolve the self-driving dispute. Uber Technologies Inc. will pay in shares to Alfabet's Waymo to settle a legal dispute concerning trade secrets allowing Uber's new CEO to pass one of the most important issues.

The announcement on Friday was made just before the fifth day of testimony begun at a jury trial in San Francisco federal court. Waymo sued Uber last year where one of their former engineers became head of Uber's self-driving project by bringing along thousands of classified documents.

Tinuku Uber pay $245 in shares to Alfabet's Waymo to settle legal dispute

The lawsuits have hampered Uber's valuable time in the ambition of building an autonomous car service. The latest settlement allows CEO Uber Dara Khosrowshahi to resolve another scandal that is wrapped around the company during the leadership of former CEO Travis Kalanick.

The Waymo lawsuit says that Anthony Levandowski downloaded over 14,000 secret files containing autonomous vehicle designs in December 2015 before he began work at Uber in 2016. The U.S. Justice Department is conducting a separate criminal investigation into trade secrets.

Uber agreed to pay the equity of approximately US$245 million. The agreement also includes certainty about Waymo's confidential information will not be incorporated into Uber technology. Last year's talks, Waymo requested at least US$1 billion and an independent monitor to ensure Uber does not use Waymo technology in the future.