News: Virtual Data Room Enhancements for Large Projects

Jan 21, 2010 - by Joel Lessem

At Firmex we are proud to announce significant enhancements on our virtual data room technology platform. The following is an extract of the press release made public today:

Firmex has released a new architecture that exponentially increases the speed in which users can review large volumes of documents.   “Since we do not charge for data or documents stored, our clients have increasingly been using Firmex for very large transactions. These transactions can run 10,000 to 100,000 document folders, each containing sets of documents”.

While this is not common on your average M&A transaction, if you’re restructuring asset-backed loan portfolios, running a multi-billion deal,  sharing clinical study findings, or reviewing litigation documents, sharing large volumes of documents is not uncommon” says Randy Rosenberg, Firmex CTO. With this highly efficient technology, Firmex can accommodate our increasing roster of large projects. “Our policy of unlimited use and cost certainty for our clients forces us to develop high-speed and efficient technology.  The combination of drag & drop functionality and the ability to move thousands of documents rapidly to and from the data room and the speed enhancements for large transactions saves our clients considerable time and money when managing transactions.  They are all aligned with our focus on speed and ease-of-use as key development objectives” says Rosenberg.

You can go here to see the full press release.

Data Room Performance Improvements at Firmex: An Overview

Feb 25, 2010 - by Marcel Meyer

Because data room performance is important to our clients, we recently released the first wave of our new software architecture to address the growing demands of our customers.

For the past few years, our customers have primarily used our data rooms for M&A deals which are usually made up of around 300 folders containing 5000 documents. However, as our clients are adopting electronic deal rooms for other uses, such as litigation and clinical studies, we decided to adapt to these new requirements. Some of these virtual data rooms might have over 80,000 folders containing more than 100,000 documents.

We’re excited to roll out our new architecture that supports sub second data retrieval, even on these large scale deals.  These improvements represent considerable time and money savings for our clients working with multiple small to large transactions. The litigation and life sciences verticals will greatly benefit from these data room improvements.

Virtual Data Rooms: Unlimited-Use Closes Deals Fast

Mar 4, 2010 - by Joel Lessem

In any deal, time is risk.  The longer it takes to close a deal, the greater the potential for the transaction to get derailed.  Being prepared ahead of time is one way to avoid time delays and risk.

Firmex’s unlimited use virtual data room broadens the range of use investment banks have for their data rooms exponentially: they can collect information to develop and circulate CIMs when marketing transactions and have their client prepare diligence information early. When the LOI is signed, diligence documentation is available and valuable deal momentum is maintained.

Shopping for virtual data rooms at the 11^th hour adds unnecessary risk to maintaining momentum and effectually closing the deal. In some cases our clients may be running multiple transactions as part of one deal (eg.debt refinancing, 3^rd party valuations, selling certain assets etc.). With Firmex, clients can startup additional data rooms to coordinate and manage related transactions at no additional cost or delay.

Firmex charges a flat subscription fee for unlimited data rooms at the same cost as a single data room from an alternative data room provider. The M&A advisory firm can set up and maintain control over all their active mandates, have cost certainty for their clients, and get deals organized ahead of time to avoid delays in the M&A process.