The late ticker: Reed disposal

Reed Elsevier agreed to sell its US subsidiary Folio Corp. to Open Market, an Internet software provider for $45m (pounds 28m) in stock and cash.

Folio Corp provides software that lets publishers sell and distribute information on the Internet. It is used by more than 400 publishers, including eight of the largest business and professional information publishers. Reed acquired the company as part of its Lexis-Nexis purchase in December 1994.