The longstanding court battle between Alphabet Inc.’s Waymo and Uber Technologies Inc. has reached its conclusion to the amount of $245 million. The dispute between the two can now be put behind them, allowing them both to focus on the future successes. Uber especially, can be seen to benefit from this, as they further start to adequately piece themselves together after such a damaging public controversy.
Defined in a settlement, Uber will pay $245 million worth of its own shares to Waymo, giving the company a 0.34 percent stake in the ride-share company. The settlement was announced on Friday, just before the fifth day of testimony was to begin at a jury trial in San Francisco federal court. Waymo filed suit against Uber last year, claiming one of its former engineers, Anthony Levandowski, stole thousands of confidential documents upon leaving Waymo, all while under former CEO Travis Kalanick's leadership.
The two companies were negotiating settlement terms since last year, with Waymo originally seeking at least $1 billion from Uber, but by late last
The U.S. Department of Justice is still conducting a separate, criminal investigation surrounding the theft of trade secrets by Levandowski. As of now, Levandowski has not addressed the allegations of theft publicly, nor has he or anyone been charged with theft of the stolen documents. Despite that, Uber should be well on their way to restoring order in the company now that this is behind them.