Britney Spears and Jason Trawick
01/12/2013 at 07:00 AM EST
It's official: Britney Spears
and Jason Trawick have called it quits.
"Britney Spears and Jason Trawick have mutually agreed to end their one-year engagement," her rep Jeff Raymond tells PEOPLE exclusively.
"As two mature adults, they came to the difficult decision to go their separate ways while continuing to remain friends."
Spears and Trawick confirmed their parting in a statement her rep released to PEOPLE.
"Jason and I have decided to call off our engagement," Spears says in the statement. "I'll always adore him and we will remain great friends."
Adds Trawick: "As this chapter ends for us a new one begins. I love and cherish her and her boys and we will be close forever."
The former The X Factor
judge, 31, and Trawick began dating
in 2009 and got engaged
on Trawick's 40th birthday in December of 2011.
The news of the breakup comes on the same day that Spears announced
she would not be returning to The X Factor
Spears has two sons, Preston, 7, and Jayden, 6, with her ex-husband Kevin Federline. The couple divorced in 2006
was first to report the couple's split.