FILE PHOTO: A screen displays the logo of the company is Uber Technologies, Inc. on the day of the IPO on the New York Stock Exchange (NYSE) in New York, New York, USA, on 10 May 2019. REUTERS/Brendan McDermid
(Reuters) – Uber Technologies Inc. UBER.(N) is in advanced negotiations for the acquisition of a forward-looking perspective, a startup that is developing simulation software, and The Information that is on Monday, citing a source familiar with the matter.
The report did not mention the deal’s terms, but said the price is mainly related to the cost of the hire of the team behind the Silicon Valley-based firm that is the software that is being used in autonomous driving. (a little bit.m/2PAkqzE)
Uber is a simulation, the software suffered from various deficiencies and are still struggling to see how a self-driving car prototype will have to deal with in the real world, according to the report, with an indication of the source.
An Uber spokesman declined to comment. A vision does not immediately respond to Reuters ‘ request for comment.
Report by Bharath Manjesh, Bengaluru; Editing by shailesh Kuber