DealTech: Datasite to launch new platform

March 27, 2023 | Media Coverage

By Rupert Cocke

Datasite, a provider of software-as-a-service (SaaS) tools for M&A professionals, plans to release a new platform to cover every stage of the dealmaking process later today (Monday), Mark Williams, the chief revenues officer (CRO) for the Americas, told Mergermarket’s DealTech column.

The new platform will be called Datasite Cloud, Williams said. It will incorporate Datasite’s other products and link them together, he said.

One example of a use case is a private equity (PE) firm that can upload its diligence needs into Datasite Acquire after identifying a potential target, the executive said. Datasite Cloud will allow the PE to continue to use the same platform after a successful deal, he said.

The PE could use the platform to report to lenders, buy bolt-on targets and eventually sell the portfolio company, Williams said. The end game is to make sure that dealmakers continue to use Datasite’s tools for all aspects of their jobs, rather than just for due diligence, he added. 

Dealmakers in more than 170 countries use the Minneapolis-based company's services, including 74 of the top 100 legal firms and all the top 20 global financial advisory firms, a spokesperson said. In 2022, Datasite facilitated more than a quarter of the top 100 global deals, she added.

At the moment, three quarters of dealmakers still manage their pipelines in Excel, Microsoft’s [NASDAQ: MSFT] spreadsheet tool, according to a Datasite presentation seen by Mergermarket. 

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