Aurora did not disclose the financial terms of the deal, which is set to close in the first quarter of 2021, but a spokesperson for the company said the acquisition and Uber’s new investment in the combined operation brings Aurora’s value to $10 billion. The acquisition, officially announced Monday, is meant to accelerate development of Aurora’s driverless application focused on heavy-duty trucks and later on light-vehicle products such as self-driving cars.
Though Uber’s Advanced Technologies Group will now fall under Aurora’s umbrella, the San Francisco-based ride-hailing giant will still be a part of the autonomous vehicle field: Uber is investing $400 million in Aurora and Uber CEO Dara Khosrowshahi will serve on Aurora’s board.
In Pittsburgh, both companies have long invested in employees, office space and test tracks to develop their self-driving technology in a city known for its difficult driving conditions. In recent months, both companies moved to expand their physical presence here, including new office space for Aurora in the Strip District and a new test track for Uber in Findlay Township.
With this acquisition, Aurora plans to continue testing on Pittsburgh roads. It will bring on the majority of Uber’s ATG staff, according to a spokesperson for the company.