We are pleased to announce that NYUs Board of Trustees and the Board of Trustees of Polytechnic University have both approved our continuing to move forward toward a merger of NYU and Polytechnic University, with the long-range goal of Poly becoming a school of engineering and technology within NYU.
This merger holds enormous promise for both institutions, and the re-opening of the discussions has been greeted warmly and with excitement not only on our campus and Polys, but throughout the city, where the integration of two important and venerable New York City institutions is widely seen as having the potential to advance significantly New Yorks prominence in the fields of engineering, technology, and applied science.
We are grateful for the Boards vote, which is a ratification of the idea that NYU and Poly will be much stronger together than apart.
We now commence a period of a few months during which both universities will conduct due diligence and work on creating the definitive agreement, the document that will more fully define the relationship between the institutions and outline each partys responsibilities and obligations. We hope and expect a successful outcome from this process.