Despite its long history on financial markets Merrill did not get into the virtual data room space until some time ago. This puts the company a short step behind many of the other best virtual data room market participants in terms of experience, however, in many cases, Datasite still has a technology edge over other providers. Instead of focusing solely on secure file sharing, Merrill turned their DataSite virtual data room into a part of a larger offering. Their platforms manage financial content as well as provide financial services and business consulting, as mentioned in other virtual data room reviews. Other Merrill SaaS platforms such as Merrill Bridge, Merrill Connect, and Merrill DPA are interconnected to assist a company in many areas including business communication, secure corporate-wide collaboration, and workflow management. This way, Merrill offers a complete solution to a financial company which can now focus on their business operations and leaves data management to the expert. However, the VDR side of the business is pretty basic, with only a few truly innovative features that are commonplace today even among newer and less expensive providers. Datasite is the company’s relatively new product stepping into the virtual data room area, and since it’s merely an extension of their communications business, the data room remains quite basic. Because of their focus primarily on financial organizations, the data room interface has been tailored to M&A deals. On their website, the company claims its data rooms processed two billion pages throughout its history. This is good for investment banking uses but has limited application to other use cases and industries, as evident from this virtual data room comparison. Users commented that Datasite was on a slow side to adopt new standards for features and usability. Among user benefits, 24-hour support in 14 languages can also be noted.
Same as Intralinks and other best virtual data rooms, Merrill positions themselves as an expert in dealing mostly with global enterprises and also calls themselves a “global leader” in the virtual data room industry, having hundreds of thousands of clients across the globe and hosting 6,000 deals per year. Thanks to its highly regarded reputation in the financial industry, Merrill DataSite hosted many high-profile transactions and the rates of this provider are also on the high side.