Tilllate.com has a user base of 2.5m unique monthly users and is aimed squarely at 18-25-year-olds.
The acquisition is part of a strategy by M8 to move deeper into social networking and attract readers who are not necessarily consumers of print media but are heavily engaged online.
This echoes the move by Development Hell's dance title Mixmag earlier this year when it acquired DontStayIn.com. This acquisition was designed to help build the Mixmag brand in key dance music markets outside of the UK such as Brazil, Australia and Spain.
What is different here is that M8 will absorb its brand into Tillate.com, rather than the other way around. The magazine will rebrand as Tillate as a print publication and also charge users £1 per download for the digital edition of the title.
There has been a flurry of activity in social networking recently, with DC Thomson buying Friends Reunited for a fraction of what ITV paid for it originally and Facebook having just acquired FriendFeed to take on Twitter.