The last editions of the magazines are expected to go on sale this week, with both titles going online-only after that.
The move is understood to be part of a broader restructure at the company that will see job cuts and a group of smaller titles in the recruitment, manufacturing and B2B construction sections put up for sale, including the Recruiter and the Logistics Manager.
Centaur was unable to confirm the number of jobs put at risk by the proposals, but it has been reported that it could be more that 60.
The restructure will also include a merger of Centaur's remaining business titles into three groups: one covering the legal and financial sectors, one the marketing and creative industries and another engineering and human resources.
Tim Potter will continue to head the Group's business publishing division, while Simon Middelboe, former CEO of EMAP Inform, joins Centaur in August to lead the business information division. A new executive will be appointed to lead the exhibitions division.
Geoff Wilmot, chief executive of the group, said: "These restructuring initiatives will substantially improve the balance of the group's revenue profile, our rate of growth and margins.
"The strengthening of the management team and operational changes are the next step in our repositioning to take full advantage of the significant growth opportunities in digital media and events. They will also reinforce our focus on building high value subscription revenues and provide a robust operational structure to support acquisitions."
Centaur also publishes Creative Review, Marketing Week, and the Lawyer.
Announcing figures earlier this year for the the last six months of 2010, the publisher reported revenues of £27.5 million – a 15 per cent year-on-year increase.
Print advertising rose by 14 per cent year-on-year to £13.7 million.
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