Merrill Corp, the US provider of SaaS tools for M&A clients, will launch an update to its DatasiteOne platform in June that will let project administrators block sensitive text for certain users, said Chief Product Officer Thomas Fredell.
The Minnesota-based provider of virtual data-rooms (VDRs) has conducted research that shows that blocking text is a critical action that is used in at least 75% of deals, Fredell said. The new service will be called Redaction and will let administrators redact and un-redact documents within the VDR, he said.
“Redaction is a massive undertaking that often requires several members of the deal team,” Fredell said. “Not only does our redaction tool save deal teams time from having to manually manage sensitive information with permanent markers or other tools, it also provides a more secure, easy way to block or unblock sensitive information, as needed.”
Merrill Corp believes in constantly innovating its VDR platform, Fredell said. Its approach is based on deeply understanding customer problems and developing many iterations of new tools before formally launching them, he said.
In April, the company updated DatasiteOne with a new dashboard, visual analytics and Q&A functionality. The new visualization tool gives different advisers different levels of granularity, based on whether they are executing a deal or looking at the big picture, Fredell said.
The new visualization tool also helps vendors identify potential problems in due diligence processes, Fredell said. The tool shows which parts of a due diligence process are attracting more attention than others from buyers, he said, adding that this allows vendors to troubleshoot potential problems.
The company was founded in 1968. It has more than 670 employees spread across 25 locations across 13 countries.
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