The sale of Wrightbus to the Bamford Bus Company has been completed.
In a statement, administrators Deloitte said Bamford is “currently determining the size and composition of the workforce required for its future plans”.
The 60 staff retained by the joint administrators have transferred to Bamford, it went on.
Peter Allen, joint administrator, said: “We are delighted to have reached a deal with Bamford Bus Company to secure the future of the business in Ballymena.
“After making extensive efforts to find a buyer, we are confident the new owner represents a bright future for a key employer in Northern Ireland.”
Wrightbus went into administration in September, putting 1,200 jobs at risk.
Earlier this month Jo Bamford - son of Lord Bamford, the JCB diggers billionaire - agreed a deal in principle to buy the Ballymena-based manufacturer.
In a statement, Mr Bamford said recruitment will begin in the coming weeks.
Local MP Ian Paisley MP has welcomed the conclusion of the Wrightbus sale process.
“I believe a world class group of engineers will now be able to prove their skills with this new company,” the DUP politician said.
“I would urge people to follow the recruitment process closely and invest their skills into this company.
“This is a huge opportunity for Northern Ireland industry and commerce and nothing must be put in its place to hinder it.”