Google, the search engine giant, has yet another valuable addition to its affluent assets. Google is expected to close a deal regarding buying YouTube for $1.65 billion. Said purchase is triggered by Google's aim to seize online video revolution and eventually become a major player in that particular aspect.

According to Eric Schmidt, chief executive officer of Google, "This is the next step in the evolution of the Internet." Hurley, YouTube's CEO added, "I'm confident that with this partnership we'll have the flexibility and resources needed to pursue our goal of building the next-generation platform for serving media worldwide."

YouTube has earlier revealed its 3 separate agreements with other media companies. However, the mighty purchaser was Google. It is said that YouTube will retain its brand, headquarters in San Bruno as well as its 67 employees and go on with its traditional online video surprises.

More of Google's purchase story here.