junio 16, 2020

M&ATech: Datasite to launch new categorization tool powered by AI - exec

Datasite, a US provider of M&A SaaS tools formerly known as Merrill Corp, is launching a new categorization tool that it says will open a new chapter in artificial intelligence (AI) applied to deal-making, Chief Product Officer Thomas Fredell said.

The Minnesota-based company is due to launch Datasite Prepare later today (Tuesday), Fredell said. It is a new application, based on AI, which helps M&A professionals prepare for deals by automatically categorizing documents, he said.

“Users just have to drag and drop documents into the dataroom,” Fredell said. Once this is done, the tool will automatically divide them into categories, he said.

The new application can be used for restructurings as well as M&A deals, Fredell said. It speeds up the time between uploading documents and due diligence, he said.

Datasite Prepare is based on AI algorithms, which have been trained on 3m documents, the executive said. Users will be able to preview, confirm or modify the categories, which will provide feedback for continual improvement, he said.

“This is true AI,” Fredell said, adding that much of the tech that sells itself as AI is actually rules-based. Early users who have been testing the document have been impressed by its accuracy, he said.

Datasite aims to launch more tools based on the same combination of simple user experience and sophisticated AI under the hood later this year, Fredell said. One development in the pipeline is to make automatic suggestions for its redactions service, he said.

M&ATech covers technology trends aimed at M&A professionals. If you would like to give us any feedback, please contact rupert.cocke@acuris.com

contactos

Media Relations
Marta Carraro

Vice President, Communications

212.367.6162

marta.carraro@datasite.com

Investor Relations
Jennifer Percy

651.632.4009

jennifer.percy@datasite.com

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