Data site

A Data site is an online repository of information that is used for the storing and distribution of documents. The phrase 'data site' likely originates from the name of Merrill Corporation's Datasite product and has since become a common term for all virtual datarooms.

In many cases, a virtual data room is used to facilitate the due diligence process during an M&A Deal or loan syndication. This due diligence process has traditionally used a physical data room to accomplish the disclosure of documents. For reasons pertaining to cost, efficiency and security, virtual data rooms have widely replaced the more traditional physical data room.