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Lifecycle of a Deal
How discovery turns into decisions, and decisions turn into action
As a deal progresses, pressure increases, scope narrows, and the cost of getting it wrong rises.
This page is a map of how deal work actually unfolds across buy side and sell side, as responsibilities diverge, timelines compress, and data obligations carry through from first review through deal close.
The lifecycle below highlights two periods where the work becomes most concentrated:
- Post-formation, pre-signing, when sellers prepare a virtual data room (VDR) and buyers and their advisors review it to assess risk, determine value, and negotiate terms.
- Post-signing, pre-close, during the transition services agreement (TSA) period, when services and systems are aligned and decisions are carried through to execution before networks are formally split or combined.
The interactive Lifecycle of a Deal visual shows a representative sequence across formation, signing, and close, with orange markers highlighting the four phases where discovery, diligence, classification, and remediation occur as buy side and sell side work diverge and reconnect.
Click a role at the top of the page to see where that role is commonly involved in these four phases.
Discovery
Find what matters
Discovery is about identifying the information that needs to be reviewed for the transaction.
- On the sell side, teams locate and prepare the files that belong in the virtual data room.
- On the buy side, multiple parties search and review those files to understand what exists and where to focus their diligence.
Stakeholders: Finance, Legal & Compliance, Operations, Private Equity, Risk & Privacy, Security & Technology, Strategy & Corporate Development
Advisors: Consultants, Forensic Accountants, Investment Banks, Legal Counsel, Tax
Diligence
Make defensible decisions
Diligence begins once teams have narrowed the universe of relevant files.
- On the buy side, advisory teams review curated material to assess risk, surface discrepancies, and inform pricing and deal terms.
- On the sell side, teams ensure the data room tells a clear, accurate story and respond to follow-up requests.
Stakeholders: Legal & Compliance, Private Equity, Strategy & Corporate Development
Advisors: Consultants, Forensic Accountants, Investment Banks, Legal Counsel, Tax
Classification
Identify sensitive data before it moves
After signing, before a buyer brings the seller’s digital assets into their network, sensitive personal, health, payment, and regulated information must be identified across the data that will move.
- On the buy side, teams assess what risk they would inherit by integrating the seller’s data and systems.
- On the sell side, teams identify what sensitive information is leaving and confirm it is handled appropriately before separation.
Stakeholders: Legal & Compliance, Risk & Privacy, Security & Technology
Advisors: Consultants, Legal Counsel
Remediation
Carry decisions through to action
During the TSA period, decisions made in earlier phases are carried through to durable outcomes before networks are formally split or combined.
- On the sell side, data is separated so the right information permanently stays with the right party after the transaction. Learn more →
- On the buy side, sensitive information is moved to approved locations or permanently deleted to meet regulatory requirements such as CFIUS, ITAR, or antitrust constraints.
Stakeholders: Employees, Legal & Compliance, Operations, Risk & Privacy, Security & Technology
Advisors: Consultants, eDiscovery, Legal Counsel
Where to go next
- How It Works → See how Octosight’s modules, features, and workflows support each phase of a deal
- Data Separation → See more detail on how a data separation works in the Remediation phase
- Who It’s For → See how organizations, PE firms, consulting firms, law firms, and investment banks engage across the deal lifecycle