Firm Programmed For Expansion

"The nature of the investment is to give us the capital to expand into a nationwide business," said Matrix chief operating officer and co-founder Donald Saunders. He said Matrix would continue operation as an independent consulting firm.

Combined with Matrix, CGI Systems expects to generate revenues in excess of $28 million in the next fiscal year. Last year, Matrix revenues amounted to $10 million; Saunders said the company expected sales to grow by 30 percent this year.

The Pacbase system has been installed at more than 600 sites worldwide, including 100 in the U.S., according to a CGI statement.

The additional business "will probably result in a fairly dramatic increase in employment" at Matrix, Saunders said yesterday. The closely held company has 175 employees in offices in King of Prussia, Boston, Wilmington and Bernardsville, N.J.

While Matrix will provide consulting services for existing Pacbase installations, CGI Systems will continue to market the product and provide start-up training services, Stradling said.

Matrix chief executive Joseph Ferrandino and Saunders founded the company in 1980. The two will remain in their posts, CGI said.

CGI Systems was founded in 1982 to market Pacbase in the United States. Its parent, CGI, which is listed on the French stock exchange, generated revenues of $150 million last year.