Wretch

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Yahoo! Taiwan buys Wretch

Yahoo! Taiwan, which has long been rumored to have an interest in the Taiwan blogger community site Wretch, finally announced the acquisition today. According to Yahoo! Taiwan, the deal is expected to be completed in the first quarter of 2007 but details regarding the amount nor terms involved have not been revealed yet.

Yahoo! Taiwan said this acquisition is aimed at strengthening its offering for interactive content sharing, especially driven by the rising role of Web 2.0.

Industry players estimate the price paid may be in the range of NT$710-715 million, though sources commented that Yahoo! Taiwan doubts whether Wretch is worth NT$700 million. Industry sources noted that Wretch earned a profit of NT$12.8 million in 2005 (EPS of NT$6.4) on a capital size of NT$20 million. Market watchers anticipate that Wretch’s EPS in 2006 will double to NT$12-13.