Details are now being finalised over how many of the firm’s 500 staff will join the newly created Ingenium Archial.

Archial went into administration last week after its shares were suspended on AIM after HMRC issued a winding-up order against it over a tax bill.

David Chubb, joint administrator and partner at PwC said: “We are delighted to be able to secure this sale and provide business continuity for customers, suppliers and employees alike in these uncertain times.

“Trading a professional services business in administration is extremely difficult and this success has only been possible as a result of the support of all these stakeholders. I would like to thank them for their assistance throughout this difficult period.”