Lithuanian Competition Council has approved Kaunas University of Technology (KTU) acquisition of almost 79 percent of shares of ISM University of Management and Economics. This decision was made after the Council concluded that the consolidation of the two universities will not create the domineering position, and will not restrict the competition in certain markets.
Up to present the main shareholder of ISM was “Inovacijų ir investicijų fondas”, part of the “Arvi” corporation. BI Norwegian Business School remains the minority shareholder. It is expected that the transaction will be completed in the near future.
“In order to keep the best Lithuanian students, to attract the talents from other countries, and to be competitive in global market, the best universities of the State have to cooperate, to consolidate their resources and to create decisions that answer to the needs of innovation economy and the State”, said KTU Rector Petras Baršauskas.
“We are expecting a productive collaboration in creating new technology management study programmes, which reflect the demands of contemporary market”, ISM Rector Alfredas Chmieliauskas maintained.
In 1999 ISM was founded by BI Norwegian Business School – the largest in Norway and the second largest in Europe business educational institution. ISM has the international reputation of one of the best business and management schools in the Baltic States.
KTU is one of the top research institutions in the Baltics, undertaking state-of-the-art research in engineering, social sciences, humanities and arts, maintaining close linkages with business. Following the tendencies of the best comprehensive universities in Europe, KTU encourages interdisciplinarity – a driving force for innovations.
