Sim racing hardware manufacturer Asetek receives takeover offer

Computer hardware specialist Asetek has revealed it has received a public takeover offer, which includes the potential sale of its sim racing arm, Asetek Racing (née SimSports).

The all-cash deal comes from Chinese firm CQXA Holdings Pte. Ltd., a subsidiary of Suzhou Chunqiu Electronic Technology Co., Ltd., with offer completion slated to take place in Q1 2026, dependent upon shareholder acceptance.

Suzhou Chunqiu specialises in consumer electronics, operating in both domestic and international markets with a workforce of around 6,000. Based in Kunshan City, Suzhou Chunqiu is thought to be particularly interested in Asetek’s liquid cooling technology, with the Danish firm spearheading the development of closed-loop, all-in-one (AIO) coolers for use in PC CPUs and graphics cards.

The offer pitches 100% of Asetek’s equity at DKK 547.4 million (around $85 million), with a future shareholder vote expected to greenlight the move.

Asetek SimSports was founded in 2021 and attempted to tap into the then-burgeoning sim racing hardware market with its range of premium wheelbases, pedals and steering wheels. In recent times, it has moved into the entry-level sector with its Initium range of products, which will eventually feature console compatibility.

Official statement

“I am happy that we have finally reached the stage where we can announce the Offer,” stated André Sloth Eriksen, CEO of Asetek. “My journey with Asetek has been long, fun and at times tough, but I am proud of what we have built and pioneered, and I am grateful for current and former shareholders who have supported us along the way.  

“I am confident that a bright future awaits Asetek, and I am looking forward to embark on the next chapter of our journey where we thanks to Chunqiu’s financial strength will be expanding in all regions and leverage our unique capabilities in other application fields,” he concluded, perhaps indicating a more cost-effective future for the Asetek Racing brand.