Tom Cruise, Katie Holmes Reach Divorce Settlement

Less than two weeks after Katie Holmes filed for divorce, the actress and Tom Cruise have reached a settlement.

Holmes's attorney Jonathan Wolfe confirmed the deal in a statement to PEOPLE:

"The case has been settled and the agreement has been signed. We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life.

PHOTOS: The Holmes-Cruise Family in Happier Times

"This result could not have been achieved without the hard work of my partner Gary Skoloff and our co-counsel Allan Mayefsky, Michael Mosberg and Larry Trachtenberg of Aronson Mayefsky and Sloan and Peter Walzer and Chris Melcher of Walzer & Melcher in California.

"We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution."

Cruise's attorney Dennis Wasser separately told PEOPLE, "All the lawyers and the parties are happy that it's done, the deal was closed and we wish everyone well."

There was no immediate word on the details, but Holmes and Cruise said in a separate statement they focused on protecting daughter Suri, 6.

"We are committed to working together as parents to accomplish what is in our daughter Suri's best interests. We want to keep matters affecting our family private and express our respect for each other's commitment to each of our respective beliefs and support each other's roles as parents," says the statement from Holmes and Cruise's reps, Nanci Ryder and Amanda Lundberg respectively. 

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