CIM
The narrative and transaction frame.
M&A data room
Move the deal forward from one governed room.
Run the CIM, financial, commercial, legal, tax and operating workstreams in one room, then change each counterparty's depth as the deal advances.
No credit card. The Data Room stays free.
One deal index
Organized in the order diligence runs.
The CIM and financials open the process. Commercial, legal, tax, HR, IP and operations stay in distinct workstreams, each ready for the reviewers and stage that need them.
01
CIM
02
Financial
03
Commercial
04
Legal
05
Tax
06
HR
07
IP
08
Operations
M&A room · Deal-team view
Eight ordered workstreams
Eight workstreams, different speeds
The deal spans six workstreams, each on its own timeline.
Financials change weekly. Legal lands in batches. HR and IP often stay closed until later. The room lets each stream remain current without flattening the process.
Financial
Historic performance, forecast and quality of earnings evidence.
Commercial
Customers, pipeline, concentration and market proof.
Legal
Entity, contracts, disputes and closing material.
Tax
Returns, structure and supporting schedules.
HR
Team, employment terms and sensitive people evidence.
IP
Ownership, assignments and material rights.
Operations
Systems, vendors, policies and delivery detail.
Staged access
Deepen the view when the deal earns it.
Start the buyer team with the CIM, financials and commercial case. Add restricted workstreams when the process moves. Lenders, advisors and counsel receive only the scope their work requires.
Buyer team
Current diligence phase
Lender
Financing package and supporting sections
Counsel
Legal, tax or HR scope assigned
Deal room · Effective access
Groups + individual exceptions
One room, controlled depth
The current room moves with each phase.
Adjust the group rule or named recipient. The room preserves the same structure, links and activity record while the effective view changes.
Entry gate · Agreement
Exact acceptance receipt
Northstar acquisition · NDA gateRecipient view
Confidentiality agreement
Jordan Lee
Before the first document
Put the agreement in the access path.
Require an NDA before the protected room opens. RoundOS keeps the accepted version, signer evidence and receipt attached to that access event.
Current material, same route
Update the workstream while the review continues.
Replace the weekly financials, add the legal batch or correct the tax schedule in place. Existing links open the current material, while the room keeps the version record.
Deal Q&A · Source context
Material and page preserved
Quality of earnings · Page 12
Question attached to its source context
JL
Jordan Lee
Deal lead · Buyer team
Does the adjusted EBITDA bridge on page 12 include the one-time implementation costs from Q2?
Asked from page 12 · Today, 09:42
AM
Alex Morgan
Deal lead · Northstar
Yes. I added the supporting schedule below the bridge and linked the source ledger in the financial workstream.
AnsweredVisible to buyer team
Questions inside the room
Keep the exchange attached to the evidence.
Buyers and advisors can ask from the relevant material or rendered page. The answer stays in context instead of disappearing into a separate email thread.
A defensible record
Every access event remains attributable.
The room keeps the evidence needed to understand who saw what, through which link and at what point in the deal.
Named recipients and sessions.
Separate buyer, lender and advisor activity instead of blending an entire firm into one count.
Views, downloads and questions.
Keep the material and timing behind each room action available for review.
Audit history outside the UI.
Export the server-side audit record when counsel or an internal review needs it.
Questions
M&A data rooms, answered.
01 Can access expand from phase one to phase two?
Yes. Change the group or recipient access when the deal advances. The same room and links remain in place while the effective view deepens.
02 Is there an audit trail?
Yes. Room events are stored with their source context, and the management surface supports an audit export for external review.
03 Can Q&A stay inside the room?
Yes. Questions can carry room, material and page context, and founder answers can remain scoped to the thread, originating group or room when eligible.
04 Do counterparties need a RoundOS account?
No. They enter through the link and complete only the configured verification, NDA or other gate.
05 Does this replace the signature process?
RoundOS can hold the diligence and negotiation materials through signing. If counsel uses a separate execution workflow, the room continues as the controlled diligence layer around it.
Move the deal
The M&A room can be live before the next request lands.
Build the index once. Deepen access as diligence advances.
No credit card. Live in minutes.