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Uber Agrees to Pay Waymo $245 Million Equity to Settle Suit

  • Deal comes after days of testimony in San Francisco trial
  • Ride-hailing giant accused of using stolen driverless car data
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Uber Pays Waymo $245 Million to Settle Lawsuit

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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.