Uber Sells ATG Self-Driving Unit

Monday marked the end of Uber Technology's (NYSE: UBER) attempt to develop in-house autonomous driving capability. The rideshare giant and self-driving tech specialist Aurora announced in a joint press release that the latter has purchased Uber's Advanced Technologies Group (ATG), its self-driving solutions division. The price of the deal was not disclosed.

Although it will no longer be the owner of ATG, Uber still stands to reap the benefits of its work. The company is forging a strategic partnership in the autonomous driving field. To cement this arrangement, Uber will invest $400 million in Aurora and CEO Dara Khosrowshahi will join the latter company's board.

Image source: Uber Technologies.

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Source Fool.com