Time Inc. is buying UK Cycling Events to build out its event platform.

UK Cycling puts on bike races, including the Equalizer Sportive, Southern Rough Ride, Cobbler Classic and Dartmoor Demon. 

Time's cycling products include Cycle Sport, Cycling Active, Cycling Fitness, Mountain Bike Rider, and related websites, and the magazine Cycling Weekly. Terms of the deal were not disclosed.

Time is making the acquisition through its U.K. subsidiary; Time Inc. (U.K.) Ltd., which is based in London. Time publishes People, Time, Sports Illustrated, Fortune, InStyle and other magazines. Time Inc. U.K. publishes Decanter, Country Life, Horse & Hound, What's on TV and Wallpaper.

Time expects the acquisition to help it build out its events division. 

Other recent media acquisitions have come from ALM, which acquired Summit Professional Networks in January, and Tribune Publishing Co. (NYSE: TPUB), which acquired 38 news brands in October. 

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