The PwC’s Global M&A Industry Trends 2024 reported that overall transaction numbers declined, but total deal value rose by more than 10%. That means companies are closing fewer, higher-value deals that involve more complex reviews and tighter regulatory oversight.

With so much at stake, deal teams must use more secure and reliable due diligence tools to exchange sensitive files. Data leaks, version confusion, and missed deadlines have real financial and reputational costs. That’s why virtual data rooms (VDRs) have become the foundation of modern M&A due diligence.

Let’s look at how virtual data rooms make complex M&A projects easier to handle — from essential tools to the platforms trusted most in 2025.

What is a virtual data room for M&A?

Anyone who’s managed due diligence knows how quickly documents spiral out of control. Contracts, spreadsheets, side letters — they all need reviewing, often by multiple teams at once. A single wrong attachment or outdated version can delay the deal.

A virtual data room solves that problem. In this workspace, information stays organized and access is carefully managed. The system records who viewed, downloaded, or edited each document, giving the process transparency and structure. Additionally, teams can automate due diligence and transactions overall.

Organizations typically use a VDR to manage:

• Financial and tax documents

• Legal contracts and governance materials

• Intellectual property records

• Human resources and compliance files.

Why do you need an M&A data room for the next deal? 

M&A due diligence usually means dealing with a large number of confidential files. Teams often face tight deadlines and pressure to keep information safe. That’s why many professionals now rely on dedicated software for M&A due diligence – it helps them stay organized and avoid costly mistakes. 

A well-managed VDR solves this problem by bringing everything into one protected, fully auditable environment.

Because of this, dealmakers increasingly rely on secure virtual data room companies at the start of every transaction.

As Ronald Hernandez, VDR expert, explains: “Strong deal governance starts with information integrity. A reliable data room helps maintain that integrity by making every action transparent.”

This focus on technology aligns with Deloitte’s 2025 M&A Trends Survey, which reports that digital due diligence platforms are now standard practice for complex deals. 

Core data room features for M&A

Industry data from Deloitte’s 2025 M&A Outlook shows that over 70% of large transactions now rely on some form of digital collaboration platform. The shift toward secure, centralized systems continues to accelerate.

The best software for M&A due diligence offers much more than just comfortable storage space. It provides structure, transparency, and security that keep deals on track.

Here are the most important data room features for M&A to look for:

Feature	Value in M&A
Advanced access control	Only approved users can open or download documents, which helps keep sensitive information protected.
Audit trails and analytics	Detailed activity logs show who accessed what and when, giving teams clear insight for audits and compliance checks.
Bulk upload and indexing	Speeds up setup by organizing documents automatically into logical folders.
Search and filtering	Saves time locating key data in large document sets.
Q&A management	Keeps communication structured and traceable within the platform.
Encryption and authentication	Ensures data protection both in storage and during transfer.

Top virtual data room providers for 2025

The VDR market continues to grow, but a few companies stand out for consistent performance, security, and support.

1. Ideals

Ideals earns recognition for its quick setup and clear file organization, according to G2 reviews. It’s easy for new users to learn, yet powerful enough for large teams running several deals at once. For deal teams needing both speed and reliability, Ideals is often the first option considered.

• Best for teams that need quick setup, precise permissions, and reliable control during high-pressure transactions.
• Teams choose it for simple configuration, responsive 24/7 support, and detailed audit reports that help identify progress and engagement trends.
• It’s best used in sell-side processes with multiple bidders, due diligence reviews requiring strict oversight, and cross-functional deal teams working remotely.
• Standout capabilities include granular permission settings, real-time analytics, watermarking, secure Q&A modules, and integrated redaction tools.
• Good to know. Teams often mention how easy Ideals is to set up. Its clean layout and simple file management help users, whether it’s their first deal or their fiftieth, get started quickly.

2. Intralinks

Intralinks has a long track record with major banks and global corporations. It supports large, cross-border transactions where regulatory compliance and multilingual access are essential.

• Best for large, cross-border transactions and institutions with strict compliance needs.
• Teams choose it for mature infrastructure, multilingual support, and controls that meet enterprise standards.
• It’s best for multinational buy-side and sell-side processes, carve-outs, and regulated industries.
• Standout capabilities include advanced rights management, detailed logs, and options that fit complex internal review steps.
• Good to know. The platform’s AI-powered deal workflow helps identify which documents need review next, based on role and prior activity.

3. Datasite

Datasite is known for combining automation with analytics to simplify deal execution. It gives users greater visibility into who’s engaging with files and how efficiently the review is progressing.

• Best for data-heavy transactions where tracking bidder activity and managing workflow efficiency are top priorities.
• Teams choose it for smart dashboards, reporting tools, and automation options that cut manual work while keeping documentation accurate.
• It’s best used in competitive auctions, multi-stream diligence projects, and large-scale mergers requiring ongoing updates and reporting.
• Standout capabilities include engagement analytics, AI-assisted indexing, smart search, and redaction tools that help automate due diligence.
• Good to know. Its AI-driven categorization engine automatically groups and labels uploaded files, often cutting setup time by 40% compared to manual indexing.

4. Ansarada

Ansarada works well for companies that need to get their records and internal processes in order before due diligence begins. 

• • Best for businesses preparing for IPOs, fundraising rounds, or major sell-side deals that require extensive pre-diligence organization.
  • Teams choose it for its capability structure data, assign tasks, and guide contributors through checklists.
  • It’s best used in early-stage deal preparation, corporate governance processes, and due diligence projects where internal coordination matters as much as document control.
  • Standout capabilities include deal workflows, digital scorecards, automated risk scoring, granular permission management, and due diligence Q&A.

• Good to know. Ansarada’s AI features include instant document translation into 10 languages directly inside the data room (with page-level precision and sub-5-second rendering), which is handy for cross-border reviews.

How to select the best VDR for your transaction

Choosing the right platform depends on your deal size, number of users, and internal workflow.

Here are the main factors to evaluate:

• Scalability. Make sure it can handle your expected volume of documents and users without performance issues.

• Ease of use. Test whether both internal teams and external advisors can navigate it easily.

• Reporting and analytics. Look for dashboards that show reviewer activity and deal progress in real time.

• Support and training. Reliable 24/7 help reduces downtime during critical review phases.

• Trial access. Running a demo quickly reveals whether the platform fits your workflow.

Final thoughts

Deals have always tested focus and endurance, but today they test data discipline too. So, when you’re choosing a platform, skip the feature charts for a moment. Test how it holds up when ten people log in at once, when files get updated mid-review, and when deadlines overlap. 

That’s the reality of a deal, and the right data room should make that chaos feel manageable.

Compare top platforms built for real transaction pressure.