Tops Day Nurseries, based in Bournemouth, will take over the provision from 1 September.
Parents, staff and public sector union Unison had campaigned to save the nursery after the college announced its decision two months ago to close it in August.
At that time the college said the nursery, which is non-profit making, was no longer financially viable.
Following a 30-day consultation with staff and parents, the college approached Tops Day Nurseries with a proposal for it to take over the running of the nursery.
Tops Day Nurseries was started 20 years ago by Cheryl Hadland and runs ten other settings in Dorset, Hampshire and Somerset, many of them workplace nurseries attached to NHS hospital sites.
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