66-ansarada 11/12/09 17:12 Page 66
DUE DILIGENCE mandadeals.co.uk
Keeping it Safe
Speed, accuracy and confidentiality are crucial to a successful deal.
James Harris talks to Ansarada’s Harry Gill about how technology is aiding M&A
W
ith increased cross-border CLASSIFIED INFORMATION comments: ‘Traditionally this process
activity and a shift towards In a market place with continual can be time consuming, which is why
mid-market deals, there has exchange of confidential information, the ability to track questions and
been a surge in the use of a virtual data M&A professionals are increasingly answers through a clear and simple
room (VDR) within the due diligence becoming sensitive to the way their work flow is vital without leaving
of M&A transactions. client documentation is handled and information outside the data room to
Such data rooms allow multiple disclosed to third parties. Gill says that create headaches later.’
parties the access to confidential ‘security, confidentiality and protection
KNOWLEDGE IS POWER
Another important aspect of the service
‘Intelligent reporting on due diligence activities conducted
is the information it provides to the
by the buyer is vital to give the seller the inside track’ seller. Gill observes: ‘Intelligent
reporting on due diligence activities
conducted by the buyer is vital to give
information through a secure platform, of information during transactions are of the seller the inside track. It provides a
available anywhere in the world via a the utmost importance’. real impression of what aspects of the
web browser. M&A is not all about boardroom business potential buyers are interested
Ansarada’s Head of Business negotiations. It also creates an unholy in for negotiations, which is why it is
Development (Europe), Harry Gill, says: administrative headache. In an M&A important to track all document and
‘It is important to utilise the correct deal with several bidders requiring user activity.’
technology to facilitate the due controlled access to documentation and With the vagaries of the market in
diligence process in M&A deals. A VDR quick-fire questions and answers, the 2009, when larger deals became less
can speed up the due diligence process, vendor has their work cut out. common, VDRs are still seeing an
reduce costs, increase sell side Gill says, ‘Collating documentation increase in use within the mid-market
intelligence and dramatically reduce the from the seller and managing the and distressed deals. ‘Before, VDRs
risk of security breaches.’ controlled and secure disclosure to would typically be used for M&A
several parties simultaneously transactions which had large deal
throughout the process can be difficult. values, involving multiple bidders and
A VDR should relieve some of the with global interest. However, recently
headache since it is simple to set up, we have found firms looking to VDRs
quick to define multiple access rights, across all deal sizes.’ ■
and easy to administer during the deal.’
Moreover, a VDR can track all the For more information about an
questions, and prioritise the ones that Ansarada VDR contact Harry
are most pressing. As all questions are Gill at Ansarada UK Ltd, 288
contained in the data room, there’s no Bishopsgate, London EC2M
chance of stray e-mails finding 4QP, telephone 0203 058 1060 or email
themselves in the wrong hands. Gill harry.gill@ansarada.com
66 Mergers & Acquisitions
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