KURTZMAN CARSON CONSULTANTS FORMS ALLIANCE WITH FIRMEX TO OFFER END-TO-END VIRTUAL DEAL ROOM SOLUTIONEL SEGUNDO, July 9, 2007 – Kurtzman Carson Consultants (KCC), a leading provider of administrative-support solutions for the legal and financial industries, formed a strategic alliance with Firmex Inc., the leading innovator for deal management technology, to pair professional-level client service with the latest virtual deal room (VDR) technology. Through the alliance, KCC offers KCC DealView powered by Firmex, a suite of deal-management tools and services designed to help legal and financial professionals manage the administrative aspects of complex corporate transactions.
KCC DealView powered by Firmex provides technology enabling clients to conduct due diligence, collaborate and exchange documents, and execute deals all in a centralized web-based environment. Additionally, law firms and others can license the VDR platform to host firm-branded VDRs with their own logo or URL, giving them greater control of deal administration and the opportunity to build brand awareness for their respective firms. KCC’s Transaction Support Services team assists legal and financial professionals in implementing KCC DealView to fit the needs of each transaction. KCC Transaction Support team, staffed by former corporate attorneys, provides due diligence support, VDR administration, document collaboration tools and post-deal support services.
"Based upon our experience as former attorneys, we established KCC to provide administrative-support and business process outsourcing (BPO) solutions that help legal and financial professionals streamline administrative challenges,” said Jonathan Carson, KCC’s president and co-founder. “Given the rapid pace and complexity of today’s corporate transactions, the Firmex alliance brings our clients who need a VDR solution the best of all worlds – industry-leading technology combined with client service from KCC’s experienced team of consultants.”
KCC DealView powered by Firmex aims to meet the evolving needs of professionals engaged in corporate transactions, such as mergers and acquisitions, initial public offerings (IPOs) and private equity transactions. Several clients already have adopted KCC’s deal management services for their diverse corporate transaction needs.
"KCC and Firmex each bring complementary strengths to the table that maximize the value clients gain by using our VDR solutions,” says Joel Lessem, CEO at Firmex. “KCC offers consulting expertise and established knowledge of the legal and financial industries, while Firmex focuses its resources on software development to help clients maintain a competitive advantage.”
Former mergers & acquisitions attorney Joel Ginsberg heads KCC’s Transaction Support Services. Prior to KCC, Ginsberg practiced at DLA Piper Rudnick and Kramer Levin Naftalis & Frankel LLP, where he focused on M&A, general business counseling, securities offerings and compliance, as well as business financing and venture capital transactions. He brings hands-on experience and perspective as a former professional to developing administrative solutions for clients’ corporate transactions.
The Evolution of Deal Rooms
Emerging trends portend a shift toward professionals using VDRs beyond deal-specific transactions. The increasing complexity and volume of today’s deals require professionals to adopt more efficient methods of transaction document-drafting, data-sharing, auditing and reporting. While many VDRs offer the convenience of conducting due diligence online, KCC DealView goes beyond due diligence, offering clients full control of deal activity before, during and after the due diligence process. It gives clients the advantage of being able to draft transaction documents in versioning software integrated within the same virtual deal room platform where due diligence takes place.
Increasingly stringent compliance requirements also drive the need for VDRs, according to due diligence experts. For example, the Sarbanes-Oxley Act of 2002 mandates that public companies implement greater controls for financial reporting and disclosure. VDRs increasingly serve as a centralized repository of company financial documentation and help companies to satisfy compliance requirements. KCC DealView powered by Firmex brings the added functionality of executing post-deal documents, known as closing sets, which serve as a record of deal-specific data and documents.
"KCC continually seeks innovative solutions to help clients keep pace with the increasing complexity of today’s corporate transactions,” adds Eric Kurtzman, KCC’s CEO and founder. “Through our alliance with Firmex, we give clients an expanded suite of tools and resources that enable them to stay one step ahead in managing transactions.”
About Firmex
Firmex™ develops a secure collaborative online environment for conducting due diligence, reviewing transaction drafts and closing deals. Firmex licenses its deal room technology to legal and financial organizations that seek to enhance their transactional services to clients. For more information, visit www.firmex.com.