COVID-19 has had a great impact on M&A transactions and technical due diligence. Not only on the volume itself, but in the way that they are conducted. Quarantines and various measures of pandemic stopping regulations and activities have forced companies to postpone or re-evaluate their M&A processes and made it necessary to conduct their due diligence in a virtual fashion. FossID’s enables a guaranteed COVID-19 free open source audit through its completely virtual no touch process.
Guaranteed COVID-19 free due diligence with FossID
Apart from the financial, tax, commercial and labor aspects, the technological due diligence is crucial in order to understand architecture, systems, infrastructure, and security and to be able to identify potential risks and synergies.
In times of COVID-19, most people involved will work from home and perform their parts of the due diligence process virtually. As software nowadays accounts for the lion’s share of the technical due diligence, it is important to choose tools that guarantee great performance, confidentiality, security, and lockdown-friendly access and operating mechanisms.
Lockdown-friendly open source audits conducted remotely and digitally
FossID provides open source audits for numerous companies, private equity firms, banks, and others. The open source audit is conducted blindly, meaning that the source code doesn’t have to be exposed to FossID
Furthermore, no physical visits are required, neither to the acquiring company, nor the target company. Instead, a tool is made available over encrypted channels to create a non-reversible digital signature of the source code, and that signature is used to perform the audit on.
The results of the audit are presented online, and comprehensive digital reports are shared to the appropriate stakeholders.