Launched in 2003, LondonCycleSport.com provides a south-east England results service as well as news, product reviews and features.
Magicalia said its existing sites have 113,000 members between them and 150,000 unique visitors each month.
Simon Whiten, publisher of Magicalia's cycle sites, said:
LondonCycleSport.com is the definitive site for the bike racer here in southern England and is the site I used myself when racing. Its probably one of the main contributing factors as to why people no longer buy cycling magazines.
Monday morning you can guarantee that everyone will be on LondonCycleSport.com trying to find their names or, for those less fortunate, the names of their rivals in the results.
"We have big plans for the site and aim to expand it into other regions, by building up a database of regional correspondents around the UK.
John Mullineaux, editor of LondonCycleSport.com, said: In the back of our minds was what we would do if the site grew too much, and we would have to justify the time and money needed to make it work? This happened in early 2005 and thanks to a successful appeal we were able to keep going for the rest of the year. But we needed to take steps to safeguard LondonCycleSport.com's future. It soon became apparent that by combining forces I would be joining a group of people who will bring benefit to LondonCycleSport.com and myself.