Tech publisher TechTarget has agreed to buy the Web sites and event products related to Reed Business Information’s Computer Weekly, while the 45-year-old magazine will close.

ComputerWeekly.com serves IT managers in Europe and the U.K. and draws an average of 425,000 visits and 1 million page views per month. The site also has an email database of 165,000 subscribers. TechTarget is also buying MicroScope, an online channel that connects advertisers and value-added reseller. MicroScope claims more than 100,000 monthly page views and more than 15,000 e-mail subscribers (the print magazine for MicroScope will fold as well).

TechTarget serves the UK market with SearchDataManagement.co.uk, SearchNetworking.co.uk, SearchSecuirty.co.uk, Search Storage.co.uk and SearchVirtualDaataCentre.uk.

For the second day in a row, a b-to-b publisher is walking away from long-time print brands. Yesterday, UBM Canon announced it is taking its plastics group digital-only and folding Injection Molding Magazine and Modern Plastics Worldwide with their April issues.

TechTarget previously shuttered its own attempts at building print magazines Storage and Information Security. The company generated revenue of $95 million in 2010, up from $86.5 million in 2009. Online businesses accounted for $82.3 million of total revenue while events accounted for $12.7 million, according to TechTarget’s 10-K report.