Quick, hide the electric razors! It's splitsville in Britville, as pop tart Britney Spears and her fiancé Jason Trawick, who was once her agent, have ended their engagement.

The twosome, who began dating in 2009 and got engaged on his 40th birthday in December of 2011, are officially over. But rumors of trouble in paradise have been swirling for weeks.

The now-former duo issued an innocuous statement, claiming they will remain friends and blah blah blah, intimating that the breakup wasn't bitter.

"Britney Spears and Jason Trawick have mutually agreed to end their one-year engagement," her rep told PEOPLE. "As two mature adults, they came to the difficult decision to go their separate ways while continuing to remain friends."

For her part, BritBrit said, "Jason and I have decided to call off our engagement. I'll always adore him and we will remain great friends."

Trawick's obligatory quote for the press release? He said, "As this chapter ends for us a new one begins. I love and cherish her and her boys and we will be close forever."

According to TMZ, the reason for the split was an old standby: They just grew apart.

Also done is Trawick's role as Spears' co-conservator. Both Trawick and Spears' daddy Jamie served as conservators, which meant they were responsible for her well-being (and keeping her from going off and shaving her head or locking herself in the bathroom with one of her sons again).

Spears is making sweeping changes in her life right now. She also broke up with 'X Factor,' announcing that she wouldn't be returning for a second season as a judge and mentor so she could focus on her singing career.

She pocketed a cool $15 million paycheck to make rubbery, gritted-teeth faces and golf-clap and say "that was uh-mazing" all season long - why would she come back for another grueling schedule of that?

You'd think Simon Cowell would be relieved that he got the sane, pulled-together Brit instead of craycray, what-will-she-say-or-do-next Brit -- but some sources say otherwise. (The latter, after all, is what makes TV fun.)

That said, Trawick did seem to have a calming influence and effect on Spears while they were together. Now that she's single again, we'll just have to wait and see which Britney we get next.