It is now confirmed that Google is acquiring live streaming video platform Twitch

It is now confirmed that Google is acquiring live streaming video platform Twitch

Google is acquiring Twitch, a game live streaming platform. The news first came back in May, that Google had agreed on the deal offering all-cash in return.

Now according to VentureBeat, citing sources in close contact with the matter that Google has agreed to make the deal with Twitch to acquire the business for $1 billion.

However, the deal is not yet finalised and both the companies have to make final announcement regarding the acquisition. “We don’t know everything about this deal, such as when it will be announced and the exact purchase price,” wrote Dean Takahashi of VentureBeat.

“We do know that investors who participated in past rounds are pleased that the will be getting significant rounds that were multiple times the amount they original invested as a return.”

Twitch is a San Francisco-based firm and was launched by Justin Kan and Emmett Shear as a subsidiary of video broadcasting website Justin.tv.

Now Twitch has now over 50 million active monthly users and 1.1 million members that broadcast videos per month.

The company offers a service allowing users to live stream their video game sessions from PC, PlayStation or Xbox, and becoming popular day by day.

Therefore, Google showed the interest in Twitch having seen the potential of the platform.