Aurora acquires Uber’s self-riding unit, swells its valuation to $10bn

Aurora acquires Uber

In an agreement with Uber, Aurora Innovation, an autonomous vehicle start-up, backed by Sequoia Capital and Amazon, has consented to acquire the ride-hailing firm’s self-driving unit, Uber ATG, in a complex deal that will value the combined company at $10 billion. However, the transaction is a cashless one as Aurora is expected not to pay cash for Uber ATG, which as at last year was valued at $7.25 billion following a $1 billion investment from Toyota, DENSO and SoftBank’s Vision Fund. Rather, Uber is expected to hand over its equity…

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