If rumors are to be believed, search giant Google today purchased social savings website Groupon for $2.5 billion.

The acquisition announcement comes from Vatornews who says they have it on the word of a “reliable source” close to the negotiations that the site has been purchased and will switch hands over to Google.

While neither Google or Groupon have confirmed the deal, the price of acquisition is in line with the $2 to $3 billion mark Yahoo tried to purchase the company for earlier in the year.

If the rumors are true, the company, founded in 2008 would become one of the quickest internet sites to ever reach above the $1 billion valuation point. The sites estimated $50 million per month in revenues would also mean Google has purchased a company that’s already earning enough to pay for itself in three to four short years, possibly less with the number of customers flocking to the site on a daily basis and now with the Google brand supporting the websites future, but again only if rumors are true.

The next move? Possibly integrating Groupon with the Google local business directory and then maybe adding the sites functionality to Google Me once the new social networking site is launched. Throw in Google’s know-how in the mobile sector and their ability to drive up advertiser sales and it looks like a win-win situation from where I’m sitting.

Now we just need to wait for either company to make an official announcement.