Asetek, the creator of CPU liquid coolers, is being acquired by a Chinese company for $85 million

Asetek, renowned as the innovator of closed-loop liquid cooling solutions for CPUs, is poised for a significant transformation as CQXA Holdings, a division of the Chinese electronics conglomerate Suzhou Chunqi, has extended an offer to acquire the company in its entirety. This strategic move, valued at approximately $85 million (547.4 million Danish Krone), signals a new chapter for Asetek, particularly following the expiration of a crucial watercooling patent earlier this year.

The proposed acquisition price of 1.72 Danish Krone per share represents a substantial premium, more than doubling Asetek's share value from 0.82 Danish Krone prior to the announcement on November 25, 2025. This immediate surge in stock price, settling around 1.6 Danish Krone per share, underscores the market's positive reception to the deal. Asetek's board of directors has unanimously endorsed the offer, viewing it as a highly attractive proposition for its shareholders.

The expiration of Asetek's key watercooling patent in May had placed the company in a somewhat uncertain position, as it lost a significant competitive advantage in the liquid cooling sector. However, the acquisition by CQXA Holdings appears to provide a robust solution, ensuring the continued development and market presence of Asetek's innovative technologies.

Three major shareholders, collectively holding 33.4% of Asetek's capital and voting rights, have already committed to accepting the offer. This strong shareholder support is a clear indicator of the likelihood of the acquisition's successful completion. CQXA Holdings is expected to formalize its offer document, approved by the Danish Financial Supervisory Authority, by December 23.

Suzhou Chunqi, the parent company of CQXA Holdings, is a formidable entity in the electronics industry, boasting approximately 6,000 employees and an estimated revenue of $500 million (4.16 billion Chinese Yuan). The acquisition report highlights that Chunqi perceives Asetek's industry-leading liquid cooling expertise and its SimSports initiatives as highly synergistic with its existing portfolio, suggesting a strategic alignment that promises mutual growth and expanded market reach.

If all necessary approvals are secured and CQXA Holdings acquires 90% of Asetek's shares, the Chinese firm intends to proceed with a compulsory acquisition of the remaining shares and delist Asetek from Nasdaq Copenhagen A/S. This comprehensive integration is anticipated to conclude within the first few months of 2026, marking a complete transition of ownership.

The acquisition signifies a pivotal moment for Asetek, as it transitions from an independent innovator to a part of a larger, diversified electronics group. This move is expected to provide Asetek with increased resources and global market access, fostering further advancements in its core liquid cooling and SimSports technologies, thereby solidifying its position in an evolving industry.