The name of the company has not yet been decided. It will deliver commissioned services for teenagers to three local authorities, as well as Lancashire-wide one-to-one support for adults and training for teachers on career information, advice and guidance.
Karen O'Donoghue, Connexions Lancashire chief executive, said the plans opened up "terrific opportunities" for the organisation to respond to last autumn's Social Exclusion Unit report Transitions - Young Adults with Complex Needs, which highlights the need to continue support for young people into their twenties.
"The three local authorities are committed to seeing this model work because they recognise the strength of Connexions Lancashire's achievement and want to build on it," she said. "The new name and its presentation will have clear links back to Connexions branding. We expect to deliver the services commissioned by children's trusts as Connexions, a name that should be synonymous with an integrated youth support offer."
The new company will provide commissioned Connexions services for Blackburn with Darwen. In Blackpool and Lancashire, where the respective local authorities will run Connexions services from September, the company will offer cross-authority services such as recruitment support and a management information system.
The new company will also oversee projects such as the piloting of learning agreements, delivered in partnership with the local learning and skills council.
Another aim is to build on Connexions Lancashire's relationships with prisons, the Probation Service and youth offending teams.
Connexions Lancashire is not yet able to comment on how the company will be run or funded.