A high-stakes trial between Uber and autonomous-driving rival Waymo has come to an end after the parties agreed to a settlement valued at roughly $245m to end litigation in which Uber was accused of stealing trade secrets.

Uber chief executive Dara Khosrowshahi said in a statement on Friday: “[W]hile we do not believe that any trade secrets made their way from Waymo to Uber, nor do we believe that Uber has used any of Waymo’s proprietary information in its self-driving technology, we are taking steps with Waymo to ensure our Lidar and software represents just our good work.”

Uber’s financial settlement to Waymo will include 0.34 per cent of Uber’s equity value — or $244.8m, valuing the car booking company at $72bn.

The deal will bring an end to a closely watched trial that started earlier this week over the trade-stealing allegations from Waymo, a unit of Alphabet. Waymo said it believed the deal “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 added. “This includes an agreement to ensure that any Waymo confidential information is not being incorporated in Uber Advanced Technologies Group hardware and software.”

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