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

It is impossible to comprehend all the details of M&A in one glance as there are tens or thousands of documents. Business and investors need to be able to read all the information available to make educated decisions about M&As or tenders. However sharing the information in a safe and controlled setting can be difficult without data room services.

While free virtual data rooms are an excellent choice for small and medium-sized companies, they are not ideal for larger corporations. Free VDRs are more popular as targets for cybercriminals and lack a host of advanced security features that paid VDRs provide. For example, Box, Dropbox, and Google Workspace all had PII and private data exposed due to faulty secure links in 2019 (even employees of these companies were affected). Additionally, the majority of free data rooms don’t allow for advanced document permission settings which are vital in a high-stakes deal.

FirmRoom, an online data room for M&As or other strategic transactions, is a popular option. FirmRoom offers a two-week free trial and charge each project according to its specific needs. The platform also comes with features such as drag and drop uploading, bulk file upload as well as permission settings. It is HIPAA GDPR, HIPAA and ISO 27001 compliant, and has an intuitive interface. The platform also provides a variety of types of pricing plans including a Pro Plan with 1 project, 5 administrators, and linked here unlimited users.

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