Asetek Acquired by CQXA

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Asetek Acquired by CQXA

The Danish sim racing specialist Asetek is being officially acquired by CQXA Holdings Pte. Ltd. and will henceforth operate as a wholly owned subsidiary of the Chinese electronics giant Suzhou Chunqiu Electronic Technology. Despite the subsequent delisting, CEO André Sloth Eriksen has reassured the community: The management team and product development at the Danish headquarters will remain in place.

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Acquisition by CQXA Holdings Pte. Ltd.

As previously speculated (Asetek Unveils Racing Universal QR Adapter – Takeover Bid from China) some time ago, Asetek has now been officially acquired by CQXA Holdings Pte. Ltd. In order to acquire the remaining minority shares, a squeeze-out procedure is being initiated to effect the transfer of the remaining shares held by the public. Shareholders have until May 21, 2026, to transfer their shares at a price of 1.72 DKK per share. As a result, the Danish cooling specialist and manufacturer of sim racing hardware will become a wholly owned subsidiary of the Chinese group Suzhou Chunqiu Electronic Technology.

What’s changing now

The question that’s probably on all of our minds as sim racers right now likely has to do with the future of Asetek. What does the future hold for the Danish company in the sim racing industry, and what changes might come? To dispel rumors, Asetek’s CEO and founder, André Sloth Eriksen, has decided to release a five-minute video. In it, he addresses the sim racers’ concerns and promises that, fundamentally, everything will remain the same. He emphasizes that nothing will change in the sim racing business and that development will continue to take place at the headquarters in Denmark. On the contrary, the acquisition could even offer opportunities for growth and future developments. The CEO will remain in his current position at the company, and the rest of the management team will continue to run the business as usual. In the long term, the partnership resulting from the acquisition will be used to increase efficiency in the supply chain and production, while the company maintains its focus on high-quality products.

CQXA Holdings

CQXA Holdings Pte. Ltd. is an investment company founded in 2025 and headquartered in Singapore. It serves as a strategic subsidiary of the Chinese conglomerate Suzhou Chunqiu Electronic Technology, which is listed on the Shanghai Stock Exchange. The company primarily functions as a special-purpose vehicle for the parent company’s international expansion and capital transactions abroad.

The parent company, Suzhou Chunqiu Electronic Technology (website: https://www.szchunqiu.com/), was founded in 2011 and is a leading Chinese specialist in the development and manufacture of precision components and housing parts for consumer electronics, particularly for notebooks. With over 5,000 employees, Chunqiu supplies global technology giants such as Lenovo, Samsung, and LG. The company has been listed on the Shanghai Stock Exchange since 2017.