Reports are suggesting that Google is eying a new acquisition target: Valve. Valve is best known for its smash-hit game Half-Life. What it isn't so well known for -- at least outside of gaming circles -- is its rich content distribution system called Steam.

You might think a content distribution network from a gaming company is no great shakes, but you'd be sorely mistaken. Steam has over 10 million registered users. What is it those users are taking advantage of? Some pretty cool stuff, as it turns out.

Steam gives its members full access to its library of games from any PC. After you've purchased a game, download it immediately and start playing. It also has a large social community that lets members find someone to play with, meet up with friends, connect with groups with similar interests, and host and join chats, matches, and tournaments. Steam has a server browser that lets users search for and discover thousands of Internet multi-player game servers, and it will automatically download updates and patches to games.

According to The Inquirer, if Google purchases Valve it will be able to yield amazing power. It writes, "Google Portal may be a nice idea, but that is irrelevant. Google Content Distribution (Beta) however should make just about every other competitor lose several years of sleep, most of their remaining hair, and large gobs of stock price. Valve has the best content distribution platform out there, bar none. Steam may have had rough patches here and there, but they are almost all ironed out now, and just about everyone that matters has signed up to use it. When Google picks them up, it will be a clean kill, no one else will matter. It is a good buy for them, a good thing for Valve, and in general, good for everyone except MS."

Where would Google use Valve's Steam? Perhaps in the upcoming Android Market. Or maybe its AdSense content distribution system.

For the moment, however, this possible acquisition is unconfirmed.