In this article, Tim Gilkison of Perivan considers why effective information governance has become critical to successful M&A execution, and what legal teams should look for in the platforms used to manage sensitive transaction data. Successful merger and acquisition (M&A) transactions depend on decision-makers having timely access to accurate information. But as deal processes become increasingly digital and multi-jurisdictional, the way that information is shared, accessed and controlled has become just as important as the information itself. For in-house and external counsel overseeing transactions, information governance is a legal, regulatory and reputational issue that can materially affect a deal’s execution, success and value. A series of recent high-profile data incidents have highlighted a common issue: sensitive information being exposed to the wrong people, at the wrong time. While in some cases this has resulted from external attacks, just as often it has stemmed from poor access control, fragmented systems or human error. For legal teams managing transactions, the implications are significant.   Risking the deal A live transaction typically involves a wide and expanding group of participants, including internal stakeholders, external counsel, financial advisers, potential bidders, regulators and other third parties. Each requires access to highly sensitive materials, from financial statements and forecasts to legal documents, intellectual property information and key commercial contracts. For in-house counsel, maintaining oversight of how that information is distributed and controlled is critical, both to supporting the transaction and to meeting broader governance and compliance obligations. Without tight control, risk can arise at multiple levels: Premature disclosure can influence market behaviour, trigger regulatory scrutiny or invite competing bids Inconsistent information sharing can undermine trust...