Video game live-streaming platform Twitch is set to be acquired by YouTube in an all-cash deal worth over $1 billion, sources have told Variety.

The deal is expected to be announced imminently and if completed will be the biggest in YouTube's history, itself acquired by Google in 2006 for $1.65 billion.

Both YouTube and Twitch declined to offer a comment to Variety.

Twitch, which launched in June 2011 by co-founders Justin Kan and Emmett Shear, claims more than 45 million monthly users.

Source: Variety