If my employer is bought out by another company, does this mean that my employment agreement is no longer valid?

I am in the middle of a transition between companies. My current employer has been purchased by another company. This other company wants me to sign a new agreement however another company wants me to come work for them. I need to know if my current agreement is enforceable even though it states that "the agreement shall terminate upon the voluntary or involuntary dissolution of employer". I need help before moving forward.