Uber sells ATG self-driving business to Aurora at US$4 billion

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 66%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the ...

Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group , to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company's goal to achieve profitability. The equity deal valued the ATG at US$4 billion, according to people familiar with the matter.

FILE PHOTO: Uber's logo is pictured at its office in Bogota, Colombia, December 12, 2019. REUTERS/Luisa GonzalezREUTERS: Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group , to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company's goal to achieve profitability. The equity deal valued the ATG at US$4 billion, according to people familiar with the matter.

The valuation of ATG has taken a dive from last year, when it raised US$1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of US$7.25 billion.Uber is also investing US$400 million in Aurora, in a deal that valued Aurora at US$10 billion, the people added. Uber will hold about 26per cent ownership interest in Aurora on a fully diluted basis, the company said in a filing.

The sale will accelerate Uber's goal to achieve profitability on an adjusted basis by the end of 2021, Chief Executive Officer Dara Khosrowshahi said in an interview with Reuters.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 6. in BE

Belgique Dernières Nouvelles, Belgique Actualités