With nearly 91,000 rental apartments and approximately 250,000 tenants, the LEG is one of Germany’s leading housing companies.
The company prepared itself for an initial public offering (IPO) in 2012 and was therefore in need of a virtual data room in which sensitive documents could be shared with external institutions in a safe, yet uncomplicated manner. The LEG decided to work with Intralinks as its reliable partner.
As part of the upcoming IPO, the LEG was looking for a reliable virtual data room that would enable external communications with lawyers, banks and the authorities. After taking a closer look at different platforms, the company chose Intralinks. The platform was convincing not only through its price, but also through its ease of-use and scope of functions. Yet another advantage was the safety of Intralinks’ servers that guaranteed access to the virtual data room even in the event of a system breakdown.
Integration and the roll-out of the Intralinks platform as part of the company’s own systems proved to be straightforward. Any company-specific adjustments to the data room structure were taken care of by Intralinks immediately. Thanks to its intuitive operation, the employees were able to use the data room right away without having to attend any training courses in advance,” says Claus-Dieter Ball, Deputy Director of the Executive Office of LEG Management GmbH.
In Actual Use
Due to the sensitive nature of the information, access rights to the Intralinks portal were strictly regulated during the entire IPO. On the company’s end, only the Board and the Executive Office were given access to the platform, while all of LEG’s departments worked with the documents in the background. On the external end around 40 lawyers, bank and government employees were given authorization to view the data. “The everyday use of the platform proofed to be very smooth. We also noticed that Intralinks is well-known in the financial industry, we didn’t need to explain the system to our external partners”, concluded Claus-Dieter Balls.
During the IPO phase, the LEG was in need of a secure virtual data room, which at the same time would also meet all of the usual compliance requirements. Features like automatic document indexing provided the project team with a clear overview of all the content, and lowered the administrative effort. As Claus-Dieter Ball describes it, “With the solutions I have seen in the past, indexing had to be performed manually. That involves a lot of work we were now able to avoid thanks to Intralinks.” LEG’s staff was also extremely satisfied with the customer support.