There was a time when Asetek was absolutely everywhere in PC hardware. In fact, the company was the OEM for many brands such as Corsair, NZXT, Thermaltake, Phanteks, etc., etc., etc… It has to be said that Asetek protected its intellectual property particularly well, applying patents on the design of all-in-one watercooling kits.
But for some time now, the company has been doing badly. The company’s share price was at an all-time low, and there was talk of selling the liquid cooling part of the business. Then a small glimmer of hope appeared in the darkness with the announcement of a new pump anda partnership with Antec. Then came the Chinese from CQXA, who put so much cash on the table that no one turned it down!
CQXA buys Asetek for $85 million!
In broad terms, the Danish company’s share price is not great, trading at $0.13 (0.82 Danish kroner). But the Chinese group is prepared to pay 110% of the share price to buy the company. Thus, CQXA, a holding company whose parent company is Suzhou Chunqi, will buy 90% of the company’s shares for 547.4 million Danish kroner, or around $85 million… If the company obtains the approval of the Danish Financial Supervisory Authority.
In fact, when the offer was made, the company’s major shareholders unanimously accepted. Finally, if the offer is successful, Asetek will also apply to be delisted from Nasdaq Copenhagen.
In short, a sad end for Asetek, which found itself in a difficult position following the expiry of patents crucial to its business. Since then, the company has been unable to resist the competition and has gradually lost key customers. Corsair, for example, moved to CoolIt, as did NZXT (more recently). Another example is Apaltek, a very aggressive OEM on price.
With this takeover, Europe has lost a company with great potential. Specializing in liquid cooling systems, the company could have focused on the server sector, which is booming thanks to AI. Instead, it’s China that will benefit from the company’s technical and technological skills. Asetek is also present in SimRacing, but it is not yet known whether the deal includes this part of the business.
