Case Study: Philadelphia Stock Exchange achieves rapid, global due diligence and $652M NASDAQ sale with IntraLinks

Philadelphia Stock Exchange - Customer Case Study

The Philadelphia Stock Exchange (PHLX), the nation’s first stock exchange, faced intense acquisition interest in 2007 but relied on a paper dataroom and a small legal team that couldn’t staff or host large, simultaneous investor reviews without disrupting operations. The exchange needed a secure, scalable way to run global due diligence and protect day‑to‑to‑day business.

PHLX adopted IntraLinks Exchanges™, uploading 20,000 pages and enabling concurrent access for 500+ global users. IntraLinks’ reporting let executives track bidder activity and ensure the right information was available, attracting about 15 suitors (including international bidders) and driving competitive value. NASDAQ completed due diligence in two months and acquired PHLX for $652 million; IntraLinks also simplified post‑sale integration and became the exchange’s document repository.

Philadelphia Stock Exchange

Scot Donnini

Associate General Counsel, Philadelphia Stock Exchange