Under settlement, Uber also will give Waymo equity worth about $245 million

Uber Technologies Inc. agreed to settle a lawsuit with Alphabet Inc.’s Waymo over claims that Uber stole and inappropriately used trade secrets for self-driving vehicles, ending a year-old legal battle over the future of transportation that had riveted Silicon Valley.

As part of the agreement, Uber promised not to use Waymo technology in its self-driving cars and to ensure no Waymo components were already in use. It also agreed to give Waymo 0.34% of Uber’s equity, which at a valuation of $72 billion for Uber, is equal to...

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