Minneapolis company that provides services for M&A deals makes another acquisition of its own

Datasite is acquiring Sherpany, a provider software to manage board room meetings and communication.

The Minnesota Star Tribune
February 28, 2024 at 2:10PM
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Datasite CEO Rusty Wiley (The Minnesota Star Tribune)

Datasite, a provider of virtual data room software that allows mergers and acquisitions participants to share documents virtually and securely, has announced a deal of its own.

The company, whose software is used by more than 3 million participants to do more than 100,000 transactions across 180 countries, is buying Sherpany. Terms of the deal for the Swiss company specializing in board reporting and board meeting management software were not disclosed. The transaction is expected to close by the end of March.

In 2021 Datasite acquired Firmex, a virtual data room company based in Toronto. In 2023, it bought MergerLinks, a financial data platform based in London.

Datasite also is in the process of acquiring an Australian-based virtual data room rival Ansarada. The deal for Ansarada, a publicly traded company on the Australian stock exchange, was valued at about $154 million. That deal could close in the second quarter if it meets certain closing conditions.

Rusty Wiley, chief executive of Datasite, said using the Sherpany products during the deal process helped convince him that its software could both be used independently and incorporated in the Datasite platform.

“A lot of time is wasted trying to coordinate participants and content and to-do’s and actions in a project or deal,” Wiley said.

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about the writer

about the writer

Patrick Kennedy

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Business reporter Patrick Kennedy covers executive compensation and public companies. He has reported on the Minnesota business community for more than 25 years.

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