Looks like Sean "Diddy" Combs and Cassie Ventura are both back on the market

Sean 'Diddy' Combs and Cassie Ventura Have Split But Rapper Is Single Despite Reports: Source

Looks like Sean “Diddy” Combs and Cassie Ventura are both back on the market.

The couple, who went public with their relationship in 2012 after years of speculation, have officially split, PEOPLE can report. Both went their separate ways months ago.

Get push notifications with news, features and more.

Reps for the stars had no comment, but a source tells PEOPLE, “the decision was amicable and they remain friends.”

“Cassie is going to focus on her music and acting career,” the source adds.

Despite reports to the contrary, a source tells PEOPLE that the hip hop mogul is currently single.

Image zoom Sean ‘Puff Daddy’ Combs and Cassie Ventura James Devaney/GC Images

Combs, 48, and Ventura, 32, met in the early 2000s after she was signed to his Bad Boy Records label. They were first linked together back in 2007 and have collaborated a few times together, including on his 2008 tune “Swagga Like Puff” and her 2009 song “Must Be Love.”

The duo were featured in a steamy 2015 ad for his latest fragrance 3AM.

Both have remained mum about their relationship in the press, attending events together but rarely speaking specifically about their pairing.

RELATED: Inside Sean ‘Puff Daddy’ Combs’ Life At Home with Six Kids: ‘I’m the Luckiest Man in the World’

Back in 2013, she told Madame Noire, “Just being around him is a completely inspiring experience. The key to maintaining any relationship, be it a romantic relationship or a friendship, is honesty and communication.”

Combs, the business mogul and rapper who is also known under monikers “Puff Daddy” and “Brother Love,” most recently spoke out about Ventura during an an appearance on The Wendy Williams Show in June — telling Wendy, “I’m in love now.”