Several tech firms were interested in acquiring parts of the company.
BlackBerry’s board reportedly turned down proposals from Microsoft, Apple and Lenovo among several other tech firms after they showed an interest in buying parts of the company.
According to Reuters, the Canadian smartphone maker said "a break-up did not servce the interest of all stakeholders, which include employees, customers and suppliers in addition to shareholders."
Earlier this year, BlackBerry agreed to be acquired by a consortium led by Fairfax Financial for $4.7bn (£3bn),which ultimately couldn’t raise the money to fund its own takeover bid.
Earlier, Microsoft and Apple expressed interest in intellectual property and patents of BlackBerry, while the trio also collaborated with others to acquire Nortel patents.
The Canadian firm has also held talks with Cisco, Google and Lenovo among others in acquiring parts of the company.
Blackberry reported a net loss of $965m during the second quarter of 2013, mainly due to poor sales of its new Z10 smartphone.
BlackBerry has agreed to pay its new interim CEO, John Chen, a basic salary of $1m as the smartphone maker focuses on the enterprise market and launches several new smartphones over the coming months.