Hollywood actor David Hasselhoff scored a deal with his estranged wife Pamela Bach in their lengthy divorce battle, regarding the couple’s finances.

According to the former "Knight Rider" star’s attorney, the deal is concerning financial issues, including spousal and child support. Also on Friday’s hearing, which Hasselhoff didn’t attend but participated by phone, he and Bach agreed to share custody of their two daughters, Taylor Ann, 17, and Hayley, 15.

"David is pleased to have the matter behind him," Hasselhoff's lawyer, Melvin S. Goldsman said. "He wants to move on with his life."

The estranged couple who were married for 16 years, announced their split early last year, and Hasselhoff was awarded full and physical custody of the couple's two teenage children.

"I’m pleased that everything has been resolved and I’m proud of my daughters who have remained strong and have exhibited dignity during this very difficult time. We are all moving on," the 55-year-old "Baywatch" star was quoted by Access Hollywood as saying.

A recovering alcoholic, Hasselhoff had sole legal and primary physical custody of his daughters, but due to the progress his relationship with Bach made, the arrangement was revised and modified.  

While the terms of the settlement have not been disclosed, it is known that the actor agreed to allow Bach to stay in their San Fernando Valley home until it is sold, Goldsman said. The actor had earlier insisted that she vacate the premises, but has since had a change of heart.

Bach's former lawyer, Mark V. Kaplan, who is representing Kevin Federline in his custody battle with Britney Spears, said he was pleased to learn of the settlement.

"I'm glad for her, I'm glad for David and I'm glad for the kids that they all have this high-conflict matter behind them," Kaplan said.