Uber Technologies Inc. agreed to give Waymo about $245 million in closely held stock to cut short a trade-secret theft trial, ending a high-stakes conflict that already cost the ride-hailing giant its top driverless car engineer and threatened to further embarrass the company.
The deal will give the Alphabet Inc. driverless-car unit 0.34 percent of Uber equity, Waymo said. The actual value of those illiquid shares will depend on how Uber is valued when it goes public -- something the company has said it aims to do in late 2019. SoftBank Group Corp. just completed a $9.3 billion deal with Uber in which it valued Uber’s shares at a blended $54 billion valuation. At that price, the settlement is worth $184 million. Alphabet already owns Uber shares since it invested in the company in 2013.