According to a recent report from Venture Beat, sources familiar with the matter have confirmed to the publication that Google and Twich, one of the most popular game streaming services, have just signed a $1 billion deal which will see the search engine giant acquiring Twitch. Neither company have confirmed or denied the news, yet.

it has been rumoured for some time that Google has been sniffing around Twitch hoping to acquire the video game streaming service to turn Google’s video empire into something huge, and now it seems that the deal is coming to a close, at least according to the usual “sources familiar with the matter.”

“We don’t know everything about this deal, such as when it will be announced and the exact purchase price. We do know that Twitch investors who participated in past rounds are pleased that they will be getting significant returns that are multiple times the amount they originally invested,” confirmed Venture Beat, who didn’t reveal much about the source, nor confirming whether the source was reliable. Both companies have declined to comment on the matter which was first rumoured to be in the early stages way back in May.

According to Venture Beat, Google’s YouTube division is apparently in charge of the acquisition which could suggest that if the deal is a reality, could throw both Twitch and YouTube together into one massive video sharing super site – though the likelihood of Google merging the two services together is hopefully unlikely.

More on this as it develops.

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