On December 31, 1992, Mead Data Central, Inc., provider of the LEXIS and NEXIS computer services, purchased Folio Corporation. Included in the description of the sale was that Folio software was being used by more than 80 commercial publishers in creating and distributing electronic versions of thousands of popular printed works, principally on compact disks and magnetic media. The market leader was Lotus Notes, and Mead Data Central, with annual revenues of $469.5 million, was well placed to compete. LEXIS-NEXIS was sold to Reed Elsevier Group in December 1994.
