Sacred Heart University and the Diocese of Bridgeport have reached an agreement for the university to purchase Notre Dame High School for $15 million.

Notre Dame will keep its name and continue to operate as a Catholic high school, but will now be under Sacred Heart's umbrella. Bishop Frank Caggiano will serve on Notre Dame's board of directors.

Sacred Heart will invest $5 million to update the school's technology and athletic facilities, along with other physical improvements.

The partnership will allow Notre Dame to take advantage of Sacred Heart's academic resources.

"I think its going to take us down a really wonderful road. In that strengthening our academic programs. We've talked about bringing out international baccalaureate program to Notre Dame in the fall. Sacred Heart's resources are only going to strengthening that. And really just making a first class educational facility for our students to study, learn and grow," says Chris Cipriano, principal of Notre Dame.

Both schools already have an existing partnership, which includes Notre Dame students receiving tuition discounts to attend Sacred Heart.

The sale will be effective starting July 1.

The Diocese will use the proceeds to support catholic education through an endowment fund dedicated to providing scholarships and financing investments.