Danish hardware manufacturer Asetek has been acquired by the Chinese CQXA Holdings. André Eriksen stays on as CEO and hopes for the sim racing side of the business to grow.
After setting the wheels in motion in late 2025 already, it is now official: Danish hardware manufacturer has been acquired by CQXA Holdings, a subsidiary of Chinese electronics manufacturer Suzhou Chunqiu Electronic Technology. The purchase will see Asetek cease to be a public company, but remain in Denmark - including keeping André Eriksen on board as CEO.
The Asetek founder himself provided insight on the acquisition in a video, explaining the background of it and what it means for the sim racing side of the business in particular. In short: Things are supposed to continue without a big difference, but with the opportunity of growing in the future.
Asetek Acquisition: Liquid Cooling As Fundamental Thought
The deal is rooted in Asetek's original business, however: Initially, the company focused on PC cooling components, and it became known for its liquid cooling systems in particular over the years. "Since Asetek is still a world leader within liquid cooling of PCs and chips, CQ's wish, by acquiring us, is to reenter the datacenter space, and thereby the AI space. That is the fundamental thought about why they're acquiring us", explained Eriksen.
What most sim racers know Asetek for, however, is their peripherals. In 2021, Asetek SimSports was founded, which has since been rebranded to Asetek Racing - and since then, the brand has spawned a whole ecosystem of sim racing hardware. What started with pedal sets soon expanded to wheelbases, steering wheels, and accessories like gloves or racing shoes.
Eriksen confirms: "Sim racing will continue. The setup today is that we develop everything in Denmark. Some of our higher-end products like the Invicta Steering Wheel is still manufactured in Denmark. We have some manufacturing in Denmark, some in Malaysia, some in China - that's going to continue."
At SimRacing Expo 2025, Asetek showed its first shifter and handbrake to the media.
Structurally, no changes for Asetek - and therefore Asetek Racing as well - are planned, either. "I'm going to continue as the CEO of the company. In fact, that was very important for CQ", said Eriksen. "The management team of Asetek is going to continue. As a customer, I don't expect that you would see much change, if any at all."
What could be a result of the acquisition is Asetek's sim racing hardware to become more widely available, as well as perhaps decreasing in price. Eriksen explained:
"Where CQ are experts is mass manufacturing. Over time, I expect that CQ can help us on the purchasing side, on the manufacturing side, driving costs down, driving efficiency up.
It's all wishful thinking right now, of course. It's not like we're going to lower our prices by 40% tomorrow, but all in all, the daily cooperation with CQ is for sure going to be on the manufacturing, supply chain, and engineering side. But also, at the end of the day, Asetek is a Danish company, and I expect it to continue like that
."
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