Google is gearing up to launch its own gaming console, according to a new Kotaku report.

Reports of the console, code named 'Yeti' have been trickling in since earlier this year, with the initial news reported by The Information.

Kotaku's Jason Schreier describes the company's plans as a "three-pronged approach":

"1) Some sort of streaming platform, 2) some sort of hardware, and 3) an attempt to bring game developers under the Google umbrella, whether through aggressive recruiting or even major acquisitions. "

Yeti is said to offload its rendering work to computers located elsewhere, making low-end PCs and mobile devices a possible platform for the service. It would also make Google's console a fraction of the price of its competitors.

Sources confirmed to Schreier that Google met with several big companies at GDC in March to gauge interest in its streaming platform. The internet giant also took meetings at E3 a few weeks ago, with the intention of buying development studios outright.

Google previously dipped its toes into the home console market with the Google Nexus in 2014 – an android based system designed to rival Amazon's Fire TV. While the console may not have been a knock-out success, it sounds like Google isn't ready to throw in the towel.

The full report from Jason Schreier is available on Kotaku.