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Due Diligence

Getting Started
What is a virtual data room, or VDR?

A virtual data room is a place in cyberspace, either in the cloud or on an in-house server, where due diligence and other deal documents can be stored and accessed.

This function can be constructed in-house but is often outsourced to data management companies with VDR products. (See Exhibit 6-2 for a list of products and websites, along with vendor name, if different.)

 

Exhibit 6-2 : A Representative List of Virtual Data Rooms

This list of virtual data rooms does not imply endorsement and does not claim to be complete.

  • Ansarada VDR (by Ansarada Pty Ltd.), ansarada.com
  • Box, box.com
  • Brainloop, brainloop.comen-gb
  • Caplinked, caplinked.com
  • Clinked, clinked.com
  • Datasite Diligence (formerly Merrill Datasite One) datasite.comus/en/products/diligence.htm
  • Deal Interactive (by TransPerfect), securetrial.dealinteractive.compublic/index.html
  • Dealroom (by Dealhub), dealhub.io/dealhub-dealroom-faster-sales/1
  • Drooms, drooms.com
  • EthosData, ethosdata.com
  • Firmex, firmex.com
  • ForData, fordatagroup.com
  • iDeals, idealsvdr.com
  • HighQ by Thompson Reuters legal.thomsonreuters.comen/products/highq
  • Intralinks (by SS&C), intralinks.com
  • OneHub, onehub.com
  • SecureDocs (by Onit), securedocs.com
  • Sharefile (by Citrix), sharefile.comvirtual-data-room
  • Sharevault (by Pandesa Corporation), sharevault.com
  • SmartRoom (by BMC), smartroom.com
  • SRS Aquiam, srsacquiom.com
  • VaultRooms, Inc., vaultrooms.com
  • Venue (by DFIN), dfinsolutions.com/products/venue
  • Workspaces (by Blackberry) formerly Watchdox, blackberry.comus/en/products/blackberry-workspaces-efss1

The full-service data room will have, among other features:

  • Apps to support mobile access
  • Deal platforms to share documents for specific transactions and for phases of transactions (e.g., due diligence, closing)
  • Indexing template for document upload (checklist categories)
  • Integration with the user’s document system (e.g., Microsoft Office)
  • Security including encryption, administrative controls, and firewall protection
  • Support and security for multiple file formats (PDFs, Word documents, etc.)
  • Visual document tracking