A data room is a secure online repository where the seller uploads documents, contracts, financials, and other materials for review by the buyer and its advisors during due diligence. The data room’s quality (completeness, organisation, indexing, and search functionality) signals the quality of the target business and materially affects the diligence timeline.
Common providers used in Australian deals include Ansarada, Datasite, and SS&C Intralinks, with subscription costs of $5,000 to $15,000 over a typical sale process.