Google and Microsoft have agreed to bring an end to their five-year dispute over patents related to smartphone and video game technology, dismissing about 20 active lawsuits in the US and Germany. Financial terms of the arrangement weren't disclosed.

In a statement on the matter, the two said they have agreed to collaborate on certain patent matters and anticipate working together in other areas to benefit their customers.

The initial dispute dates back to 2010 when Microsoft claimed Google's Android operating system used its technology without permission. The Redmond-based company also filed a suit against Motorola which Google later inherited when it inherited Motorola Mobility for $12.5 billion in 2012.

Google later went on to sell the mobile arm to Lenovo for just $2.91 billion a couple of years later.

Just because the two companies have agreed to end the patent spat doesn't mean they're suddenly best buddies. It's much the opposite, actually, as Google and Microsoft compete against each other in a number of different areas. Bing and Google compete for search traffic, both have vested interests in the smartphone industry and Google just announced a new business-minded tablet that's expected to compete directly with Microsoft's popular Surface line as well as the new iPad Pro.