Cahners Business Information, New York, announced Monday it has agreed to acquire CMD Group (formerly Construction Market Data Group) for $299.5 million. The acquisition is designed to bolster Cahners' Building & Construction Group, which publishes construction industry trade publications and two industry Web portals, Buildingteam.com and HousingZone.com. Cahners is positioning the move as designed to boost its Internet strategy in the construction industry. The flagship offering of CMD is Construction Market Data,
which publishes 100 regional editions containing construction project information and sales leads. The acquisition of CMD Group is also designed to aid Cahners in its competition with the construction industry information division of The McGraw-Hill Cos.