The legal battle between two of the biggest tech titans is finally over -- at least for now. The attorney representing Waymo, the self-driving car company spun out of Google, settled its court case with ride-hailing giant Uber on Friday. Google's parent company, Alphabet, is set to receive 0.34 percent of Uber's equity at a $72 billion valuation as part of the agreement. The highly-anticipated trial, which started this week, involved Uber allegedly stealing trade secrets from Alphabet by hiring former employee Anthony Levandowski. As part of the settlement, Uber has agreed to work with Waymo so that certain software is credited to Google and not incorporated in Uber's systems. "We have reached an agreement with Uber that we believe will protect Waymo's intellectual property now and into the future. We are committed to working with Uber to make sure that each company develops its own technology," a Waymo spokesperson wrote in a statement. The decision comes after less than a week in the courtroom, where Uber cofounder and former CEO Travis Kalanick his first public appearance since being ousted from Uber in June 2017. Uber's current CEO Dara Khosrowshahi apologized to Waymo in a statement released shortly after the ruling. "To our friends at Alphabet: we are partners, you are an important investor in Uber, and we share a deep belief in the power of technology to change people's lives for the better. Of course, we are also competitors. And while we won't agree on everything going forward, we agree that Uber's acquisition of Otto could and should have been handled differently," Khosrowshahi said.
Feb-9-2018, 17:49:20 GMT