YouTube to buy streaming-video site Twitch for $1 billion - Variety

Tue May 20, 2014 12:28am IST

Visitors stand in front of a logo of YouTube at the YouTube Space Tokyo, operated by Google, in Tokyo February 14, 2013. REUTERS/Shohei Miyano/Files

Visitors stand in front of a logo of YouTube at the YouTube Space Tokyo, operated by Google, in Tokyo February 14, 2013.

Credit: Reuters/Shohei Miyano/Files

Related Topics

Stocks

   

(Reuters) - Google Inc's (GOOGL.O)(GOOG.O) YouTube unit has reached a deal to acquire videogame-streaming service Twitch for more than $1 billion, according to a report in Variety, the entertainment news publication.

The all-cash deal is expected to be announced "imminently," according to the report on Sunday, which cited unnamed sources.

Officials at Google and Twitch declined to comment on the matter.

San Francisco-based Twitch allows consumers to broadcast live video streams of themselves playing videogames and includes social networking features that allow video game fans to communicate with each other during the broadcasts. The company says more than 45 million gamers visit its site every month.

Video games are among the most popular content on YouTube, the world's No. 1 video website.

In September, Twitch raised $20 million in funding from Thrive Capital, WestSummit Capital and Take-Two Interactive Software Inc (TTWO.O), among other parties.

(Reporting by Mike Stone; Editing by Eric Walsh and Jeffrey Benkoe)

FILED UNDER:
  • Most Popular
  • Most Shared

GOOGLE

Tech Showcase

Antitrust Measure

Antitrust Measure

European Parliament may propose Google break-up in draft resolution.  Full Article 

Regulating Apps

Regulating Apps

Singapore to regulate taxi-booking apps Uber, GrabTaxi.  Full Article 

Aereo Bankrupt

Aereo Bankrupt

Aereo files for bankruptcy  Full Article 

Cyber Spying

Cyber Spying

U.S. accuses China of cyber spying on American companies  Full Article 

Tech Workers

Tech Workers

Obama's immigration tweaks leave Big Tech wanting more.  Full Article 

Net Neutrality

Net Neutrality

FCC chief says U.S. Internet rules must stand up to lawsuits  Full Article 

New Amazon Service

New Amazon Service

Amazon plans ad-supported video streaming service - NY post  Full Article 

Travel Technology

Travel Technology

Airlines eye tech partners to tap customer data  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage