According to VentureBeat sources "familiar with the matter," Google has reached a deal to buy streaming site Twitch for $1 billion.

Neither Google nor Twitch have commented on the report, but if VentureBeat's sources are correct, it would confirm a rumor that first floated to the surface in late May. At the time, Variety claimed that an announcement of the deal was "imminent," while the Wall Street Journal said talks were still in the early stages.

The acquisition would give Google control over the two biggest forces in online video. YouTube, which it acquired in 2006, is the biggest video platform on the internet, while Twitch entertains more than 45 million users per month, and is far and away the most popular platform for livestreaming on the internet. According to the VentureBeat report, Google's YouTube division headed up the acquisition.

A Twitch representative declined to comment on the report.