In April 2017, B/E Aerospace was acquired by the avionics and aircraft connectivity provider Rockwell Collins for $6.4 billion.[1] Based in Cedar Rapids, Iowa, Rockwell Collins competes with Honeywell and more recently with Garmin. Through this transaction, B/E shareholders would own 20% of the new Rockwell, which would have $8.1 billion in revenues and $1.9 billion in pre-tax earnings with nearly 30,000 employees.[17] As a result of the acquisition, a newly created direct or indirect subsidiary of Rockwell Collins, Quarterback Merger Sub Corp., merged with and into B/E Aerospace, with the latter surviving the merger as a direct or indirect subsidiary of Rockwell Collins.[3]