Statement by Polytechnic President Jerry M. Hultin and Board Chairman Craig G. Matthews On Board Approval to Move Forward With Merger with New York University

Polytechnic University’s Board of Trustees and New York University’s Board of Trustees have both approved our continuing to move forward toward a merger of Polytechnic and NYU, with the long-range goal of Poly becoming a school of engineering and technology within NYU.

“This merger will greatly benefit both Polytechnic University and NYU.  We are excited about the benefits this partnership can create for New York, the nation, and the world as these two great universities turn science and technology into innovative products and services.  This will also generate the potential of making New York a leading technological center for innovation, entrepreneurship and economic growth,” said President Jerry M. Hultin.

“This is indeed an exciting time for our institutions and our students. Polytechnic and NYU share a common global vision for the university of the 21st century,” noted Craig M. Matthews.

“ The Board of Trustees and I strongly believe that this strategic partnership holds enormous promise for both institutions as we advance New York and the nation’s prominence in the fields of engineering, technology and applied science.”

We now commence a period of a few months during which both universities will continue due diligence and draft a Definitive Agreement, the document that will more fully define the relationship between the universities.  We hope and expect a successful outcome from this process and the long-term relationship between our universities.