[By NBC-1TV H. J Yook]The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced the launch of WorkSpace, a new cloud computing platform that will expand the company's Corporate Solutions client base and enter the burgeoning virtual data room (VDR) market.

WorkSpace is a fully hosted, cloud-based solution that safeguards all sensitive and proprietary information in real-time, both inside and outside of an organization's firewall. The technology provides companies with a paperless VDR for secure and effective document sharing typically used for mergers and acquisitions, pre-IPO due diligence review, bankruptcy and restructuring, auditing, reporting, market research distribution and fundraising initiatives. WorkSpace also has an iPad app and is designed for unlimited accessibility via web or tablet use.

“At NASDAQ OMX, we are committed to building innovative technologies that help companies worldwide minimize risk, maximize efficiency and increase transparency,” said Anna Ewing, Executive Vice President of Global Technology Solutions. “WorkSpace will expedite and organize deal transactions and project management, allowing organizations to save time and money through a highly secure and auditable VDR platform built strictly for those needs. This is a great opportunity for us to introduce another major cloud-based solution to the industry.”

The virtual data room industry is expected to grow exponentially on an annual basis during the next five years. The need to have secure file sharing, document warehousing, and auditability has driven this growth and has provided key stakeholders with invaluable insight into business ventures and transactions.

“By launching WorkSpace, we aim to revolutionize the VDR industry,” said Demetrios Skalkotos, Senior Vice President, Corporate Solutions. “As interest piques in the activities surrounding compliance and auditing functions for transactions and partnership interaction, companies are demanding a highly secure, real-time platform for document sharing and project collaboration. WorkSpace addresses this need head on.”