31 March 2016 Kaunas University of Technology (KTU) has finalised the contract of acquisition of ISM University of Management and Economics’ control stock. KTU has acquired control over almost 79 percent of ISM’s shares. The two universities will remain independent in their activities, and students will be awarded diplomas of the university they study in and graduate from.
The agreement to acquire the shares was signed in the end of December 2015. 15 March 2016 Lithuanian Competition Council approved the KTU’s acquisition of the ISM control stock. KTU has invested almost 3.5 million Euros into the successful and profitable and, according to auditing experts, healthy organisation, ISM.
It is expected that the partnership between the two internationally acclaimed and leading universities of the State will allow to accomplish their full potential, to use their respective strengths, and to boost their reputation by creating interdisciplinary study programmes that answer the market needs, and by attracting most talented Lithuanian and international students, teachers and researchers.
Various forms of collaboration between state and private institutions of higher education is a common practice across Europe and the USA. It is instrumental in enhancing study and research quality, in consolidating resources for joint projects, and in opening new study and research possibilities.
