UBER SELLS ITS SELF-DRIVING UNIT TO AURORA….

By: Economic & Finance Report

Technology ride hailing company Uber has sold off its self-driving unit (ATG) to Aurora. Aurora is backed by investors such as Amazon. The sale is an all stock sale, which will make Aurora worth around $10 billion dollars.

ATG (Uber) will be worth around $4 billion dollars from the sale. Collectively ATG and Aurora will have a work force of over 3,000 employees worldwide. Uber sold ATG in order to focus on their core business models and focus on generating profits, which the tech giant has yet to achieve. -SB

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