Drooms provides data room for 70 percent of the top 20 deals
27. February 2020
- European market shares gained on the back of strategic cooperations and organic growth
- Real estate investment deals with a total volume of over EUR 8.7 billion processed via digital data rooms from Drooms
- Real estate sector increasingly turning to digital solutions
* Volume exclusively relates to supported deals included in the listing compiled by the information service Thomas Daily. Full list available at: https://knowledgebasedocuments.thomas-daily.de/TD_TopDeals-2019.pdf
Frankfurt, 27 February 2020 – Drooms enjoyed a successful year in 2019. According to a list compiled by the information service Thomas Daily, the data room supplier helped to process around 70 percent of the largest German real estate deals with a total volume exceeding EUR 8.7 billion using its proprietary digital data room solution. Among the top transactions processed using a data room provided by Drooms last year was, for example, the sale of the Frankfurt office building “Die Welle” for a price of EUR 620 million.
Growth driven by expanded client base and increased acceptance of digital solutions
Alexandre Grellier, CEO and Founder of Drooms, provides a summary: “We have above all observed an increased transaction volume among our clients. Looking at the list, the smallest deal still totalled EUR 400 million. The fact that 70 percent of the deals were processed using a Drooms data room not only reflects the trust that customers have in our product, but also serves as recognition of our hard work. Moreover, it is not just the volume of processed deals that has risen: the number of users of our data rooms solutions has also increased by 57 percent. There has been a rise in the usage of Drooms PORTFOLIO as a tool for the entire lifecycle management of real estate in particular. When a real estate asset is kept transaction-ready at all times, deals are concluded much more quickly”.
Strategic cooperations and organic growth secure relevant market shares
In terms of personnel, Drooms recorded an increase of around 17 percent to a current level of 150 employees. These include positions in the areas of both Sales and Research and Development in addition to executive roles for the international expansion of the company. The European market presence was strengthened by opening locations in both Madrid and Barcelona in Spain. These offices will be responsible for directing southern European markets. “Our international expansion will be accelerated throughout 2020. We are planning to open offices in relevant growth markets and optimise our structure on an ongoing basis. We want to follow our customers internationally. Over the coming months, we will provide additional information in this regard”, Grellier adds.
Since May 2019, Drooms has been operating an exclusive partnership with Oodrive, the French experts in handling confidential information. Together, both companies constitute an independent, European expert for the secure transfer of data. The first step has seen complementary product solutions being offered via the other partner firm in their respective domestic market.
Outlook for 2020
Grellier is positive for the rest of 2020: “We have further projects, participations and partnerships in the pipeline. In this context, we have recently announced a cooperation with DocEstate, a PropTech firm that focuses on the digitalisation of queries from the authorities. We are planning additional major partnerships, product expansions and services. Some of these measures will be presented in two weeks’ time at MIPIM 2020, when we shall be setting the agenda for the future of the company over the next few years”.
Drooms, Europe’s leading provider of virtual data rooms, grants companies controlled access to confidential corporate data across company boundaries and specialises in customised solutions across the entire value-added chain. In addition to securely handling confidential business processes such as commercial real estate sales, mergers & acquisitions and NPL transactions via Drooms TRANSACTION, Drooms PORTFOLIO maps all stages across the entire Lifecycle Asset Management process on a single platform. Currently, more than 25,000 companies across the world use Drooms, including leading global real estate companies, consultancy firms, law firms and corporations such as the METRO GROUP, Evonik, JLL, JP Morgan, CBRE, Rewe and UBS. The software specialists have concluded over 15,000 complex transactions with a total volume of more than EUR 500 billion.