Data Room (M&A Glossary)

Summary

Document rooms that are secure and can be continuously monitored while potential buyers review financial statements, intellectual property, client contracts and other confidential documents regarding the target. A virtual data room (VDR, or electronic data room) is a digital data room where confidential documents are reviewed remotely via the internet. A clean room is a data room with particularly sensitive and personal information, accessible only to a small group of the bidders’ due diligence team members (the clean team).