CASE STUDY VDR through the eyes of a giant: how we tailored the offer to the highest requirements

A long-term contract, but one in which payment would only be for the time the system is actually used. What needs did an offer prepared in this way have to meet?

OUR CUSTOMER

One of Europe’s leading capital groups in the energy market

TYPE OF PROJECTS

M&A transactions, sale of subsidiaries

Large capital groups are subject to extremely strict regulation and requirements regarding the protection of confidential information. For this reason, the tool that our client decided to use to carry out the transaction processes had to meet stringent physical security conditions, but also procedural security conditions, while meeting the internal requirements of the company’s security, IT, compliance and legal departments.

The tool had to meet stringent physical security conditions, but also procedural security conditions, while meeting the internal requirements of the company’s security, IT, compliance and legal departments.

Given the fact that our client regularly carries out processes of this type, going through the formalities required by the Group each time would have been an additional, excessive, burden when signing one-off contracts for a given project in the Data Room. So what did we offer our client?

The specifics of the Group’s business are well known to us. We have proposed a flexible solution in the form of long-term cooperation, which has been tailored to the individual needs of the client. Its features include:

• possibility to commission a VDR at any time
• payment only when the VDR is commissioned
• completion of formalities only once

We were also prepared to adapt in terms of the complicated RFI (certification) process. This meant:

• Meeting the requirements of the security, compliance, purchasing, legal and business departments, whereby we also organised a dedicated teleconference for the directors of the aforementioned departments
• Completing subcontractor qualification surveys, which required more than 30 hours of work.

In addition, we complied with the blient’s stringent security requirements, including:

• prohibiting FORDATA employees from opening documents placed in the VDR*
• NDA with high contractual penalties

* documents are only opened by the FORDATA team if this is necessary to provide technical support to the user

During the 12 months of the contract, our client has completed four transactions with the help of the FORDATA system, and our cooperation is still ongoing. The conclusions from this period have allowed us to point out features of the VDR that deserve special attention.

• High flexibility – the client has the system up and running when they want it and for how long they need it.
• Each VDR has different groups of Administrators – they are partly the same and partly different people
• Each VDR has international users from investment banks, large law firms and energy groups from Europe, with convenient access to resources
• We have provided resources capable of holding over 100,000 pages of documents (i.e. >10GB of data) on each VDR instance. We served a total of over 1,000 users during this time

It is a matter of great satisfaction to us that we provide the client with the values they have come to expect from the service.

• Meeting the security requirements required by the Group, including, importantly, the guarantee that all personal data is processed within the European Union
• Server rooms are located within the European Union
• All FORDATA subcontractors are also entities registered and operating within the EU
• Possession of all required certificates
• Customer service department with extensive experience in handling this type of process

Time for more – equally large and prestigious – projects efficiently managed with FORDATA Virtual Data Room system.