Aurora, the self-driving car company, announced today that they are acquiring Uber Technologies Inc.’s (NYSE: UBER) self-driving unit, Advanced Technologies Group (Uber ATG). ATG's team and technology will accelerate Aurora’s mission and the delivery of our first product safely, quickly, and broadly.
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“By adding the people and technology of Uber’s Advanced Technologies Group to the incredible group we’ve already assembled at Aurora, we’re shifting the landscape of the automated vehicle space,” said Chris Urmson, co-founder and CEO of Aurora. “With the addition of ATG, Aurora will have an incredibly strong team and technology, a clear path to several markets, and the resources to deliver. Simply put, Aurora will be the company best positioned to deliver the self-driving products necessary to make transportation and logistics safer, more accessible, and less expensive.”
The team at ATG brings expertise, passion, and determination to delivering self-driving vehicles safely to the road. ATG, like Aurora, has been heads down, focused on building. While their advances in software, hardware, product design, and more have flown under the radar, they have made tremendous headway on many fronts. They are committed to rigorous testing and have built a strong safety culture. With their technical prowess in both research and practical applications, ATG will strengthen and accelerate the first Aurora Driver applications for heavy-duty trucks while allowing Aurora to continue and accelerate work on light-vehicle products.
In addition to acquiring ATG, Aurora is also announcing a strategic partnership with Uber that connects their technology to the world’s leading ride-hailing platform and strengthens their position to deliver the Aurora Driver broadly. While autonomous trucking is where Aurora will deliver a product first, the relationship with Uber puts Aurora in the unique position to be a leading player in both autonomous trucking and passenger mobility. In support of Aurora’s partnership with Uber, Uber is investing $400 million in Aurora and Dara Khosrowshahi, the CEO of Uber, is joining Aurora’s board of directors.
“Few technologies hold as much promise to improve people’s lives with safe, accessible, and environmentally friendly transportation as self-driving vehicles. For the last five years, our phenomenal team at ATG has been at the forefront of this effort—and in joining forces with Aurora, they are now in pole position to deliver on that promise even faster,” said Dara Khosrowshahi, CEO of Uber. “I’m looking forward to working with Chris, and to bringing the Aurora Driver to the Uber network in the years ahead.”
Aurora is focused on fueling progress through developing foundational technology, hiring amazing people, and building valuable relationships and partnerships. Today marks an exciting moment for Aurora, the people of ATG, and the future of self-driving technology. The momentum and power of this combined team creates a unique opportunity to realize Aurora’s mission, and build the technology and products the world needs to make transportation and logistics safer and more accessible.
Aurora, founded in 2017 by the leading experts in self-driving, is delivering the benefits of self-driving technology safely, quickly, and broadly. The company is building the Aurora Driver, a platform that brings together software, hardware and data services to operate passenger vehicles, light commercial vehicles, and heavy-duty trucks across a range of applications. Aurora is backed by Amazon and Sequoia, among others, and tests its vehicles in the Bay Area, Pittsburgh, and Dallas. The company has offices in those three cities and in Bozeman, Montana. To learn more, visit www.aurora.tech
Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 15 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.
Advisors and Details
Allen & Company LLC is serving as financial advisor to Aurora. Wilson Sonsini Goodrich & Rosati, P.C. are serving as legal counsel to Aurora. Goldman Sachs & Co. LLC is serving as financial advisor to ATG and Uber. Wachtell, Lipton, Rosen & Katz is serving as legal counsel to ATG and Uber. The transaction is subject to regulatory approval and customary closing conditions and is expected to close in the first quarter of 2021.
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