Free Data Room Services – Are They a Good Option For M&A?

It is difficult to comprehend all the details of M&A in a single glance since there are tens of thousands of documents. To make informed decisions regarding M&As, tenders, or capital raising, it’s crucial for businesses and investors to be able to review all of the available information. However sharing the information in a safe and controlled environment is difficult without data rooms.

While free virtual data rooms are a great option for small and medium-sized companies however they are not suitable for larger corporations. Cybercriminals are more likely to attack free VDRs, which do not have the advanced security features of paid VDRs. For example, Box, Dropbox, and Google Workspace all had PII and private data exposed due to unconfigured secure links in 2019 (even employees of these companies were affected). In addition, many free data room services don’t allow for advanced settings for document permissions that are vital in high-risk transactions.

If you’re in search of a reliable online data room FirmRoom is a top choice for M&As and other strategic transactions. They offer a free two-week trial, and will quote each project according to specific requirements. The platform has other features such as drag-and-drop uploading, bulk files uploading and permissions settings. In addition, it’s ISO 27001, GDPR, and HIPAA certified and has an intuitive user interface. The platform also offers multiple kinds of pricing plans like the Pro Plan with 1 project five administrators, and unlimited users.