The settlement fell well short of what most investors had expected, however, and shares of Tivo plunged 18 percent in trading Friday. (Click here to track the company's stock.)
Under the agreement, TiVo will get a lump-sum payment of $490 million from Google and Cisco. The company will also enter into patent licensing deals with Cisco, Google and Arris Group.
Google bought Motorola Mobility in 2012 and sold its set-top making unit to Arris this year.
"We are pleased to reach an agreement that brings our pending litigation to an end and further underscores the significant value our distribution partners derive from TiVo's technological innovations," TiVo CEO Tom Rogers said.