NEW YORK (TheStreet) -- Google
(GOOG) shares are rising, up 1.4% to $527.88, on Monday on the heels of speculation that its YouTube subsidiary reached a deal to acquire video game streaming service Twitch.
The all cash deal for the San Francisco based company is worth $1 billion, making the acquisition the largest purchase in the history of the Google owned video streaming service, according to Variety
Twitch allows users to upload live gameplay videos for streaming from Microsoft Xbox (MSFT) and Sony Playstation (SNE) gaming consoles. While the basic service features ads, users can pay a subscription fee for ad free viewing.
Must Read: Warren Buffett's 25 Favorite Growth Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV