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.
- Will Facebook Investors Start Worrying About Slowing Growth?
- How China Is Weighing on Qualcomm Ahead
- The 52-Week Low Club for Wednesday
- The 4 Stocks That Drove the DJIA Down on Wednesday
- Can NOV Really Fall Another 20%
- World Wrestling Entertainment Can’t Pin Down Subscribers
- FOMC Patient, Rates Hikes Can Be Later Rather Than Sooner
- Shake Shack Boosts IPO Price Range
- Why Analysts Are Loving EA More and More After Earnings
- How Much Did Apple Sales Hurt Samsung?