(Reuters) -Engine Capital said on Friday it would end its activist campaign at Lyft ( LYFT ) and withdraw its board nominees after the ride-hailing platform boosted its stock buyback program.

The company increased its stock buyback program to $750 million from $500 million, and said it intends to use $500 million of the authorization within the next 12 months.

Last week, Engine Capital had urged Lyft ( LYFT ) to undertake a $750 million accelerated repurchase, and to consider strategic alternatives, including a sale.

Lyft ( LYFT ) did not immediately respond to a request for comment.

(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)