Future is planning to buy TI Media, which publishes Marie Claire, Country Life and Wallpaper* magazines for £140m from private-equity owner Epiris.
The deal is expected to complete by spring next year and Future is planning to achieve "cost synergies" of £15m a year within two years. It said that "a significant proportion" of this will be in the first financial year after the deal has gone through.
It means Future will enter into the lifestyle and women’s interest markets, and extend its current portfolio in gaming, tech and home interest.
This, the publisher said, will give it the opportunity to "access new advertising bases and materially diversify audience reach of Future".
TI Media, formerly known as IPC Media, owns 41 titles and is run by chief executive Marcus Rich. Earlier this year, it closed Marie Claire UK in print after 31 years.
Zillah Byng-Thorne, chief executive of Future, said: "The largely UK-focused, print-led nature of the TI Media portfolio offers a multiplicity of opportunities to leverage our proprietary technology stack and operating model to develop new audiences and geographic expansion.
"This deal marks the latest move in our strategy to expand our global reach through organic growth, acquisitions and strategic partnerships. We look forward to working closely with the TI Media team as we continue to expand our loyal communities and give them a place they want to spend their time and where they go to meet their needs."
IPC Media, once the giant of UK consumer magazines, was founded in 1963 as International Publishing Corporation.
US-based Time Inc bought IPC Media for $1.6bn in 2001 and rebranded it as Time Inc UK in 2014.
Meredith bought Time Inc last year when it sold the UK operation to Epiris, reportedly for around £130m.
Time Inc UK then became TI Media.