PSU decides against acquisition of OCAC
It has recently been announced by Portland State University (PSU) that the possible acquisition of Oregon College of Art (OCAC) will not take place.
A few weeks ago, PSU started a study on a merger or acquisition with OCAC. As it turns out, the University will not need to contact its brochure printing service about adding OCAC’s information. The study concluded that the expense of the proposed acquisition would be too great.
In a news release from PSU, President Rahmat Shoureshi explained:
“We explored this because we were excited about the potential opportunity that an acquisition would honor the legacy of art and craft at OCAC, support the arts in our region and bolster our own College of the Arts.”
Despite the University’s enthusiasm for the possible deal, the research, exploring various acquisition scenarios, showed the possibleoutlaying for PSU would be overlaying expensive in light of its current budget challenges.
This was not the first potential deal to fall through concerning merging OCAC with another institution. In December 2018, a possible merger with the Pacific Northwest College of Art (PNCA) did not go through when that school determined merging was not “a feasible option.”
Officials of OCAC say that PSU’s decision does not mean the school will close and efforts will continue to save it. Established in 1907, OCAC is situated in Southwest Portland and offers fine arts degrees.