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Google Set for $1 Billion Twitch Takeover

Google has reportedly reached a deal to acquire streaming video network Twitch for approximately $1 billion, according to GamesBeat.

Citing "sources familiar with the matter”, the terms of the deal and when this deal will be formally announced are still undetermined at this point in time, but the deal is reportedly ‘done’.

The acquisition means Google will now control the two leading forces in online video. Namely YouTube, which the company purchased back in 2006, and Twitch, which plays host to more than 45 million users per month.

YouTube will reportedly take control of the acquisition and Twitch will be used to expand Google’s global video hub to the growing segment of users who live broadcast.

Twitch was launched in 2011 by co-founders Justin Kan and Emmett Shear, and is the Internet's poster boy for live streams of video games, and perhaps more importantly, eSports.

Furthermore, the PlayStation 4 and Xbox One allow users to broadcast gameplay directly to Twitch which has significantly increased the output of content and the ability to share gameplay.

Both Twitch and Google have declined to comment.