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Tech giants Microsoft and Google have reached an agreement to end years of animosity by dropping all regulatory complaints against each other across the globe which includes the European Union, Argentina, Brazil, Canada and India. The two companies have also agreed to collaborate on certain patent matters and settle any future issues amicably before making official complaints.

"Our companies compete vigorously, but we want to do so on the merits of our products, not in legal proceedings. As a result, following our patent agreement, we've now agreed to withdraw regulatory complaints against one another," a Google spokesperson said.

A Microsoft spokesperson also echoed similar sentiments saying, "Microsoft has agreed to withdraw its regulatory complaints against Google, reflecting our changing legal priorities. We will continue to focus on competing vigorously for business and for customers."

The agreement was brokered directly by Microsoft chief executive Satya Nadella of and Google CEO Sundar Pichai. The two men share a cordial relationship, unlike their predecessors Steve Ballmer and Eric Schmidt, according to sources. Prior to this, in September 2015, Microsoft had dropped its remaining patent litigation against Google, though the company sought patent royalties from hardware makers that use Android and Linux in their products.

The announcement also comes at a time when EU regulators are pursuing Google, alleging that the search giant is abusing its position with Android in the market. Microsoft was one of the most active and powerful advocates for investigating Google's search practices within the EU. But in November 2015, Microsoft withdrew its memberships in FairSearch and ICOMP, two pivotal groups supporting antitrust actions over Google's search business.