SAN FRANCISCO, Aug. 18 (UPI) -- Uber, the world's largest ride-sharing service, on Thursday said it acquired technology start-up Otto as it continues to push for advances in self-driving vehicles.
Otto is a start-up of more than 90 people that works on developing self-driving truck technology. Uber and Otto will combine efforts into improving self-driving capabilities "across personal transportation, delivery and trucking," the ride-sharing company said.
"If that sounds like a big deal -- well, it is. More and more the world of atoms is interacting with bits. In order to provide digital services in the physical world, we must build sophisticated logistics, artificial intelligence and robotics systems that serve and elevate humanity," Uber co-founder and CEO Travis Kalanick said in a statement. "When it comes to this advanced technology stack, Otto plus Uber is a dream team."
The New York Times reported the deal could be worth about $680 million.
Kalanick said the acquisition of Otto means that Uber has "one of the strongest autonomous engineering groups in the world." Uber recently established a research facility in Pittsburgh to work on autonomous driving technology as it competes against Google, considered one of the leaders in autonomous vehicle technology.
