Google bought YouTube in 2006 for $1.65 billion. Now, it has purchased the largest video game-streaming site in the world for $1 billion.

VentureBeat reports that Google has successfully reached its deal to buy the video game-streaming website, Twitch, and its various services. This past May, we originally reported that Google's YouTube division was planning to buy the website. There is a big chance that YouTube could absorb Twitch into itself, expanding YouTube's video game-streaming services tremendously. Either way, Google has successfully removed YouTube's biggest rival from live-streaming video footage.

Neither Google nor Twitch have yet to comment on the news. It is likely that Google will release a formal statement once all legal matters are formally settled between both parties. Both Google and Twitch will be speaking at GamesBeat 2014 this September in Germany, increasing the likelihood of a public announcement. We must remind our readers that Google purchased YouTube in 2006 for $1.65 billion and it became the premier video-streaming service on the Internet. It is likely that Google will do something similar with video game footage, streaming and Twitch.

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