Aegis IT has been rescued by Technology Services Group (TSG) which bought the failing firm out of administration from rescue and recovery specialists Begbies Traynor.
TSG saved the jobs of all of the Aegis staff who will be integrated into the TSG team.
TSG Chief Exec David Stonehouse said: "Given the quality of both the customer base and the team there was a high level of interest in acquiring Aegis.
"Both the team and the customers fit perfectly with delivering our strategy to increase penetration in the mid-market, most importantly sharing our consultative approach and a deep understanding of technology.
"I'm also delighted that the staff are so enthusiastic about the opportunities for development and career progression that we can offer at TSG."
With expertise across cloud, infrastructure and applications, TSG is an ISO 9001 accredited IT solutions company headquartered in Newcastle with 400 employees in offices around the UK.
TSG holds six Microsoft Gold competencies and continues to make significant investment in the development of its own managed IT services solution, SystemCare.