Fasten, a ride-hailing app that entered the Austin market in June, will cease its operations in the U.S. starting at midnight Monday.

The app's co-founders, Kiril Evdakov, Vlad Christoff and Roman Levitskiy, announced Friday the company would be shutting down operations in Austin and Boston. Fasten has agreed to be acquired by the Vezet Group, a ride-hailing service based in Russia.

"While they will be using our brand and technology to grow their business in other parts of the world, they will be freezing our operations in the U.S.," the co-founders wrote.

Fasten launched in Boston in the fall of 2015. In June of 2016, when Uber and Lyft left Austin, Fasten announced it would expand into the market.

Uber and Lyft returned to Austin in May of 2017 after the Texas legislature passed a law overriding city regulations on ride-hailing companies. Fare, a ride-hailing app that began operating in Austin in May of 2016, shut down in June of the following year.