Social media site Parler announced Thursday it will no longer go through with Kanye West purchasing the platform.

The move comes as Parler and West, who has changed his name to Ye, both decided that it would be the best decision moving forward. The acquisition was agreed upon in October after West was originally banned from Twitter over antisemitic posts.

"The company has mutually agreed with Ye to terminate the intent of sale of Parler," Parler said.

"This decision was made in the interest of both parties in mid-November. Parler will continue to pursue future opportunities for growth and the evolution of the platform for our vibrant community," Parler said.

Parler, a social media platform that encourages right-wing and conservative topics, explained that it has plans to grow its company in the future without West's purchase.

"Parler will continue to pursue future opportunities for growth and the evolution of the platform for our vibrant community," Parler said in a statement.

West was originally interested in the platform to help remove censorship of conservative views.

"In a world where conservative opinions are considered to be controversial we have to make sure we have the right to freely express ourselves," West said at the time in a Parler statement.