Tom Cruise and Katie Holmes reach settlement (Photo : Flickr)

In only less than two weeks after Katie Holmes filed for divorce, she and Tom Cruise have quickly reached a settlement, PEOPLE reports.

The actress' attorney Johnathan Wolfe confirmed the settlement  in a statement saying,

"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.

"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." 

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Specific details are scarce however, the ex-couple have released separate statements saying that their main focus is to protect their 6-year-old daughter Suri.  Holmes and Cruise's reps Nanci Ryder and Amanda Lunberg state:

"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. 

Sources say that Holmes wanted out of their marriage due to Cruise's overzealous Scientology plans for their young daughter. 

PEOPLE reports "that Cruise, 50, and Holmes, 33, were working on an arrangement in which Suri lives in New York with her mother and her father is given generous visitation rights."

When news broke of Holmes filing of divorce, sources said that Cruise was blindsided (although the actress may have hinted to a possible divorce in an interview). Holmes and her daughter have recently moved into a 3-bedroom NYC apartment and have been spotted numerous times in the last few weeks. Cruise still resides in Los Angeles with his other children, Connor, 17, and Bella. 19.