It has apparently been confirmed today that Google will indeed be acquiring the gaming live-stream website Twitch, for a reported $1 billion. Details are still scant, but we know that Google's purchase of Twitch is being handled through YouTube, which would make sense as it is still the biggest host for user-created video content on the web. 

According to Venture Beat, Twitch investors are very happy with the deal and will apparently receive "significant returns that are multiple times the amount they originally invested." Both Google and Twitch have so far not made any official statements regarding the tech giant's purchase. 

Given that YouTube is reportedly in charge of this deal, that could mean big changes could be coming to YouTube if the two streaming sites themselves eventually merge. YouTube was purchased in 2006 by Google for $1.65 billion. 

For those of you who don't know, Twitch is the internet's premiere service for video gamers to live-stream their own gameplay. It works with either of the next-gen consoles (Xbox One or PS4) or PCs. Perhaps the fastest growing aspect of Twitch (and probably the main reason Google is acquiring it) is the broadcasting of competitive video gaming events. The Verge reports that last year's League of Legends final apparently drew a viewership of 32 million. All market indicators point to continued growth in game-streaming, and Google is most likely banking on an online revolution of sorts as more and more people tune in to Twitch. 

Originally a part of Justin.tv, Twitch branched off in 2011 as it rapidly became more popular than it's parent site. Since then the growth has been impressive, with it's original 3.2 million monthly users ballooning to 20 million in 2012, 45 million last year and 50 million this year. According to the Verge, the game-streaming site boasts "6 million broadcasts and 12 billion minutes watched" each month.

Marketing VP Matt DiPietro claims the company currently "can't keep up with the growth," and that that is "a good problem to have." And he's right. It's the problem most businesses hope to eventually have.

Combining YouTube with Twitch would all but eliminate any significant market space for competitors, at least for the foreseeable future. We'll just have to wait and see how it all unfolds.