- 4 October 2023
- By atomedya
A virtual data room is a cloud-based service that permits secure uploading and sharing of multiple files. In contrast to physical data rooms, these platforms can be accessed from many different devices including tablets and laptops. They allow users to work from anywhere and at any time. This makes them suitable for a range of projects. They are also ideal for M&A procedures and also for collaboration between different business stakeholders.
M&A transactions often include large volumes of confidential documents that need to be looked over by potential bidders. Traditionally, buyers had to visit the office of the seller in order to review these documents. This was expensive and time-consuming. VDR allows bidders to review the same documents at the same time and speeds up the due diligence process and leading to more attractive bid prices.