Google Reportedly to Buy Twitch For Over $1B – GOOGL

Google’s (GOOGL) YouTube unit has agreed to buy Twitch, a live video-streaming service for gamers, for more than $1 billion, according to a report from Variety. While the news isn’t official, the publication citing “sources familiar with the pact,” said that the all-cash deal is being prepped for proposal to shareholders, investors and antitrust regulators.

Twitch’s PR Director Chase said on Twitter (TWTR) that the firm “doesn’t comment on rumors.” Google hasn’t made an official statement yet either, but Variety claims that the deal should be announced “imminently”. If completed, the acquisition would be YouTube’s biggest deal yet.

San Francisco-based Twitch, which was founded in June 2011 and allows video-gamers to watch and upload video of gameplay, has an audience of more than 45 million monthly users. According to reports in February, the service had ranked 4th in peak internet traffic in the U.S.

In September, Twitch raised $20 million in funding. The firm has raised just $35 million to date.

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