YouTube is reportedly buying video game live streaming site Twitch for $1 billion

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YouTube is about to announce the acquisition of Twitch for $1 billion, according to a Variety report. Twitch, which offers users a way to stream and watch live video game action, would be YouTube’s biggest acquisition to date, and help the Google-owned video service to catch up in the live streaming space. The acquisition is an all-cash deal, according to Variety.

Both companies declined to comment on the story Sunday afternoon. “We don’t comment on rumors or speculation,” a Google spokesperson told us via email, and Twitch’s PR director Chase tweeted the following:

http://www.twitter.com/ChasejustChase/status/468164124111695872 

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Source: GigaOm.com

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