On November 30, 1999 British Aerospace completed its purchase of GEC's Canadian Electronic Systems to form BAE Systems. In December 1999 BAE Systems purchased GEC's 51.6% share of CMC in a separate transaction. In February 2000 the company changed its name to BAE Systems Canada. In April 2001 ONCAP (an investment group comprising Onex Corporation and other investors) completed its purchase of BAE Systems Canada. This saw BAE Systems sell its then 54% majority share and ONCAP purchase the remaining 46% publicly held shares. The company was then renamed CMC Electronics since it had previously sold its rights for the Marconi name to Marconi plc. In 2007, after owning the company for 6 years, the investment time frame initially planned by ONCAP, CMC Electronics was sold to, and is now a wholly owned subsidiary of Esterline Corporation.