Blackberry founder and former co-CEO Mike Lazaridis has publicly abandoned his plan to buy the company formerly known as RIM. Lazaridis was the technology-focused CEO who wanted another chance to help out the iconic Canadian smartphone pioneer. When the company was put up for sale months ago, Lazaridis valiantly rallied investors to buy the company. Blackberry decided not to sell and is currently working to regain its foothold in the mobile industry.

Lazaridis also cashed in a portion of his Blackberry shares worth US $ 26 million.