New York-based ride-hailing service Juno announced Monday that it was putting the brakes on its business.

Service will end at 6 p.m., according to a press release from parent company Gett — which acquired Juno for $200 million in 2017 — which also announced that it had reached a strategic partnership with rival Lyft.

Gett cited “misguided” city regulations as the main reason for the closure, along with a commitment to the corporate market.

“This development reinforces Gett’s strategy to build a profitable company focused on the corporate transportation sector, a market worth $1 trillion each year,” Gett chief executive Dave Waiser said in a statement.

All Juno riders will be invited to join Lyft, the company said, adding that drivers will be paid in full until their final ride on Monday. Drivers will have to apply separately to drive for Lyft.

Juno’s website features an image of a stoplight with a green heart, along with a message to drivers and riders.

“We are sad to share that Juno’s service has come to an end,” the message reads. “We thank you for allowing us to be a part of your journeys and wish you all the best.”

Gett, which has the bulk of its users in Europe, will now allow its users to book Lyft rides in their app when they are in the United States.

“Instead of competing with consumer ride-sharing companies, we are partnering with them,” Waiser said. “Our strategic partnership with Lyft is a win-win: Gett is expanding its reach across North America at the same time as we continue to see strong momentum in Europe, while Lyft benefits from the large number of Gett enterprise clients traveling to the US.”