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

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.

Kalanick outside courthouse on Feb. 7.

Photographer: David Paul Morris/Bloomberg

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 ...