YouTube to purchase Twitch for $1 billion

By Chelsea Lewis ,

YouTube has reached a deal to purchase Twitch, which is a high profile popular video game streaming company. The price tag on the company was $1 billion. Twitch allows users to upload and watch free, live game play videos. The company was launched back in 2011.

Sources close to the deal have said that the deal is expected to be announced soon and it will be an all-cash offer.

Variety reported that if this deal goes through the acquisition would be the largest purchase in the company's history. YouTube was purchased by Google back in 2006 for $1.65 billion.

USA Today added that this company reached a new level in popularity with the launch of both PlayStation 4 and Xbox One.

According The Verge, Google is one of main companies that are interested in purchasing Twitch.

YouTube serves more than 6 billion hours of video per month to 1 billion users worldwide and is one of the largest Internet video companies.

Representatives for both YouTube and Twitch have not commented on the deal.



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