Drooms AG will acquire the Zurich-based DealMarket AG effective 1 January 2017. The German company describes itself as a leading European provider of virtual data rooms that focuses in particular on the exchange of confidential documents. With the acquisition of DealMarket, it intends to expand its portfolio to include process management for investments.
DealMarket has developed a cloud-based software package for private equity investors, family offices and corporate finance experts, allowing them to centrally manage the deal flow and exchange with internal and external parties, explains Drooms in a statement. DealMarket also offers a global marketplace where private equity investors, service providers and co-investors can both list their items for sale as well as search for deals and services from other parties.
“With the acquisition of DealMarket we are closing in on our target of managing the entire lifecycle of valuable assets. DealMarket has done some excellent development work in this area, developing an innovative, industry-tailored solution in the process,” said Jan Hoffmeister, co-founder and CEO of Drooms.
Founded in 2001 in Munich, Drooms is already present in Switzerland: alongside its headquarters in Frankfurt, it also has headquarters in Zug.