Asetek’s $82m takeover is now complete

Suzhou Chunqiu Electronic Technology Co., Ltd now owns Asetek (21st April 2026), and therefore Asetek Racing, following the acceptance of a takeover offer and the transfer of funds to shareholders.

CQXA Holdings Pte. Ltd now owns 90 per cent of the Danish liquid cooling experts, and consequently, the outfit will now be privately owned and delisted from the Nasdaq Copenhagen stock exchange.

This follows an announcement on 14th April that the offer by the Chinese tech firm was accepted, and a video published by CEO André Sloth Eriksen explaining what its immediate plans were ahead of today’s confirmation.

The cost of such a deal was not published in today’s announcement, although the offer was believed to be at DKK 1.72 per share. Therefore, the 303,298,827 share deal is estimated to have been in the region of $82 million.

Asetek entered the sim racing market with the SimSports sub-brand in 2021, initially with a high-end set of Invicta hydraulic pedals. Since then, it expanded into wheel bases, wheels, accessories and even, lost year, its first cockpit and Xbox-compatible equipment. Around the same time, it also rebranded from Asetek SimSports to Asetek Racing.

Proceeding today’s confirmed takeover, Eriksen moved to reassure its current customer base:

“[Regarding] sim racing, that is still something we’re going to continue with; nothing will really change,” he explained last week.

“As a matter of fact, with CQ[XA] coming on board and taking ownership, I expect our headquarters here in Denmark will grow. We will have more engineers. Sim racing will continue our vision of building a great and very profitable sim racing company.”

Eriksen will continue as the Chief Executive Officer of the company, with CQXA planning to re-enter the data centre industry (primarily for liquid cooling) during the current AI-led boom.