Property tycoon Nick Candy has acquired Blippar, the collapsed technology unicorn, buying it out of administration with plans to relaunch the augmented reality start-up.

Blippar crashed into administration in December after losing tens of millions of pounds on its augmented reality technology.

An investor dispute prevented the company from raising extra funds, causing its business to collapse. The remains of the company's intellectual property have been bought out by Candy Ventures, which will relaunch the company under its former chief executive Ambarish Mitra.

Under deal, Candy Ventures will also acquire the assets of Layar, another augmented reality app which was acquired by Blippar in 2014....