In a sign of investors' meager appetite for driverless-car ventures, Uber Technologies Inc. isn't so much selling its ill-fated project as paying a rival to take it on. Uber Technologies has announced the sale of its autonomous vehicle technology business, ATG, to Aurora, an autonomous vehicle technology company, for an equity stake in Aurora. Uber said it would hold a roughly 26% stake in Aurora on completion of the deal. When you see our vehicles on the road, you can rest assured that they’re doing important work that supports our efforts to deliver safe, reliable self-driving transportation. Of the 21 analysts who have studied UBER, 19 insist it is a “Buy” while two advise holding and zero recommend selling. Instead, Uber is handing over its equity in ATG and investing $400 million into Aurora, which will give it a 26% stake in the combined company, according to a filing with the U.S. Securities and Exchange Commission. The valuation of Aurora with ATG is $10 billion or about 4X of Aurora’s valuation in June 2019. EquityZen is a marketplace for shares of proven pre IPO tech companies. Uber ATG investors including ATG employees with equity will own another 14%. Industry observers had speculated for weeks about the deal, especially after ride-sharing rival Lyft Inc.’s $2.3 billion initial public offering last month. The holiday season is a great time for investors to stock up on the best tech picks in retail and entertainment. View More Companies. The partnership will also give Aurora a connection with an auto manufacturer, Toyota, which has invested in Uber ATG. More. UBER | Complete Uber Technologies Inc. stock news by MarketWatch. The company was formerly known as Ubercab, Inc. and changed its name to Uber Technologies, Inc. in February 2011. Buy or sell Uber Advanced Technologies Group stock pre IPO via an EquityZen fund. Uber raised $1 billion for the ATG unit in July from a preferred stock sale of 14.3% of its Apparate subsidiary to Toyota, SoftBank and Denso. Uber will not be the first beneficiary of ATG's autonomous solutions. By Krystal Hu, Tina Bellon and Jane Lanhee Lee (Reuters) -Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), 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. Uber's stock was down less than a percent Monday, following the close of markets. The company was founded by Oscar Salazar Gaitan, Travis Kalanick and Garrett Camp in 2009 and is headquartered in San Francisco, CA. Investors should expect continued pressure on the stock … Request Access. Uber ATG is valued at $7.25 billion. The next step is a computer-driven car but with a human behind the wheel, before moving onto a computer-driven car with a human behind the wheel and a passenger (you!) Get the latest Uber Technologies, Inc. UBER detailed stock quotes, stock data, Real-Time ECN, charts, stats and more. Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), 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. (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), 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. In 2019, Uber ATG raised $1 billion from Toyota Motor, Japanese automotive components manufacturer, Denso Corp., and the SoftBank Vision Fund, which valued ATG at $7.25 billion last year. The company was formerly known as Ubercab, Inc. and changed its name to Uber Technologies, Inc. in February 2011. The ride-hailing giant said late Monday that its autonomous-driving unit ATG would be acquired by Aurora Innovation Inc., a … View Uber Technologies, Inc. UBER investment & stock information. Uber said it would also invest $400 million in the company as part of the deal. Aurora announced its acquisition of Uber’s Advanced Technology Group (ATG) in a complex deal that is an all-stock transaction. The stock closed at $53.80 in New York and has jumped 81% this year. The ride-hailing company will invest $400 million in the business. Instead, Uber UBER, -1.72% will invest $400 million into Aurora as part of the deal and will retain a 26% stake in the startup, according to a filing with the Securities and Exchange Commission. View real-time stock prices and stock quotes for a full financial overview. The Aurora Driver software platform will have more opportunities and will continue to focus on its three main use-cases: autonomous trucks, goods AVs and robotaxis. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. Uber announced on Monday that it would sell its self-driving-car unit to the startup Aurora. The company announced tonight that Toyota, Denso and Softbank are investing a total of $1 billion in its Advanced Technologies Group (Uber ATG), in a … At Uber ATG, we are dedicated to making every mile we drive on the track and on public roads count. Instead, these will be directed to self-driving trucks. ... Freight, Other Bets and ATG and Other Technology Programs. Uber will receive stock in Aurora, a startup working on autonomous vehicle technology. The ATG and Other Technology Programs segment engages in the development and commercialization of autonomous vehicle and ridesharing technologies, as well as Uber Elevate. UBER: Get the latest Uber stock price and detailed information including UBER news, historical charts and realtime prices. Apparate was the shell company Uber … Uber shares are now down 31% since the coronavirus sell-off began, worse than the 18% decline in the S&P 500. The ATG and Other Technology Programs segment engages in the development and commercialization of autonomous vehicle and ridesharing technologies, as well as Uber Elevate. Uber Advanced Technologies Group Stock. Now that UBER has sold its self-driving ATG technology to Aurora, the company can squarely focus on serving its customers rather than attempting to advance autonomous driving tech. Now what. ... Aurora has roughly 600 employees, while Uber’s ATG group has about 1,200 employees, many of them based in Pittsburgh, long an epicenter of robotics thanks to Carnegie Mellon University. By Krystal Hu, Tina Bellon and Jane Lanhee Lee (Reuters) -Uber Technologies Inc is selling its autonomous driving unit, Uber (NYSE: UBER) Advanced Technologies Group (ATG), 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 ATG and Other Technology Programs segment primarily responsible for the development and commercialization of autonomous vehicle and ridesharing technologies, as well as Uber Elevate. Ride share giant Uber Technologies Inc (NYSE:UBER) is down 2.4% at $52.50 in this morning's trading, after the company announced its self-driving unit Advanced Technologies Group (ATG… Uber ATG focuses … Stock Analyst Update Uber Plans to Sell ATG; Profitability Path Clearer We're raising the technology firm's fair value estimate to $61 per share. This marks a major drop in valuation for ATG, as it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion last year. This makes Aurora the largest AV developer—at least in number of employees. Toyota and DENSO said they will invest $667 million, and SoftBank will invest $333 million. (As a refresher, Uber held an 86.2% stake (on a fully diluted basis) in Uber ATG, according to filings with the SEC. The equity deal valued the ATG at $4 billion, according to … Uber Sells ATG Self-Driving Business to Aurora at $4 Billion. The two companies on Monday said that as part of the deal for the self-driving-car unit, known as Advanced Technologies Group, or ATG, Uber will make a $400 million cash investment in Aurora. Uber's self-driving unit, the Advanced Technologies Group (ATG), has an estimated valuation of over $7 billion, representing more than10% of Uber's current market cap of about $61 billion. UBER stock was bought by a variety of institutional investors in the last quarter, including Woodstock Corp, and Fulton Bank N.A.. Company insiders that have bought Uber Technologies stock in the last two years include Dara Khosrowshahi, and Robert Eckert. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. Uber ATG uses a phased approach in their autonomous driving ambitions by first having a human drive while the vehicle gathers information about the roads and conditions. 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