Google has reached a deal to acquire Twitch for $1 billion

Google has reached a deal to buy game livestreaming firm Twitch for $1 billion, according to a report by Variety. Citing unnamed sources, Variety said that Google has made an all-cash offer and the deal could be announced soon. If confirmed, the deal will underscore the value of live internet streaming and the rise of competitive gaming as a spectator sport. Google’s YouTube division is reportedly in charge of the acquisition, which would represent a significant transformation of YouTube’s business. Google acquired YouTube in 2006 for $1.65 billion.

Google’s YouTube has reached a deal to buy Twitch, a popular videogame-streaming company, for more than $1 billion, according to sources familiar with the pact. The deal, in an all-cash offer, is expected to be announced imminently, sources said. If completed the acquisition would be the most significant in the history of YouTube, which Google acquired in 2006 for $1.65 billion. The impending acquisition comes after longtime Google ad exec Susan Wojcicki was named CEO of YouTube earlier this year. Reps for YouTube and Twitch declined to comment. San Francisco-based Twitch lets users upload and watch free, live gameplay videos that can be streamed from Microsoft Xbox and PlayStation 4 consoles. The company claims to have more than 45 million monthly users, with more than 1 million members who upload videos each month. It also has deals to distribute shows from partners including CBS Interactive’s GameSpot, Joystiq and Destructoid.

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