January 30, 2013
V-Rooms™ Virtual Data Rooms announced today that the number of corporate clients who use their virtual deal rooms increased by 67% during 2012. Corporations are increasingly using virtual data rooms to assemble due diligence information on companies targeted for acquisition or merger. Buy-side virtual data rooms support the purchasing company’s due diligence checklist demands and data organization, facilitating a smoother acquisition.
“Having organized data can cut the due diligence process timeline in half.” said Dan Bradbary, CEO of V-Rooms™. “By having the buy-side corporation or PE firm organize and setup the data room, it becomes the seller’s responsibility to comply with the buyer’s requests on how the financial documents are organized. When a PE firm or corporate development team needs to analyze several companies for acquisition or merger, having consistent data organization cuts this process down considerably. Many firms are realizing this and become the one who sets up the data room.”
V-Rooms™ Pro, the newest version of the V-Rooms™ Virtual Data Room solution, offers several new enhancements that will further smooth out the buy-side due diligence process. With multi-room access, companies will be able to simplify user/prospective investor access of multiple data rooms, and batch download of documents will allow data room users to select multiple documents for review and download them all in one step. V-Rooms™ also expects to benefit from this behavior change to continue to modify the marketplace and shift virtual data room provider’s customer base from the selling firm to the buyer.
The number of V-Rooms™ clients also increased by 57% for the energy industries.
“We expect strong growth to continue into 2013 for our energy client division,” said Karen Perkins, President of V-Rooms™. “Regulatory changes from the Jobs Act had a large effect on increasing PPM activity within the energy industry and this has been a large growth market for us.” .
V-Rooms™ provides a cloud-based, customizable virtual data room (VDR) solution that is designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals. The V-Rooms™ Software-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. V-Rooms™ enables the acceleration of complex, information-intensive processes while reducing the time and expenses associated with data distribution, courier, printing and travel. Additional information can be found at here.