Cahners Acquires eLogic for $79 Million

Cahners Business Information, New York, has acquired eLogic Corp., an application service provider of web-based content management and delivery systems to media and Internet companies, for $79 million.

Cahners, a trade magazine and business information publisher, has employed an aggressive strategy to expand its growth as an information provider to elite US business professionals. Over the past year it has acquired 10 companies, launched three vertical Web portals for the manufacturing, electronics and construction industries as well as debuted several magazines.

ELogic is based in Los Angeles, CA.

Cahners, a member of the Reed Elsevier plc group, generates $1 billion in revenue and has over 5,000 employees.