Worldwide implementation and support blog

CoreTech solutions acquired by PFM Intelligence Group

Posted by Carly Leget on Mon, May 31, 2021

PFM Intelligence Group, the Netherlands headquartered specialist technology and communications company, has announced the acquisition of CoreTech Solutions, the market leading IT infrastructure provider to the UK retail property sector, for an undisclosed sum.

The deal, which establishes the PFM Holding UK Ltd company, will create a significant player in integrated technology systems, focusing on complex consumer data insights to create business critical market intelligence that helps clients navigate the challenges of the retail and infrastructure sector. As client solutions have become more complex, the PFM and CoreTech partnership has grown. PFM is already seen as the most successful footfall system integrator in the UK for many years, with CoreTech playing a major role in this success.

The merger of the two companies into PFM Holding UK Ltd will now allow both parties to share their combined expertise into a singular vision of continuing to provide the best in class innovative services within the industry and strengthen their ability to compete with and outperform the market. Launched in 2008, Redditch based CoreTech Solutions is a best in class and fast growing provider of state-of-the–art technology used by major UK developers, property management companies and advisors in the retail sector. Its technology is deployed in shopping centres, streets, shops, stations and smart cities.   

CoreTech Solutions was established during the 2008 recession, and quickly grew to become a market leader, now accounting a large proportion of the UK IP infrastructure market and employing 35 people. Its growing client base includes many leading players from the retail property sector and transport hub sector in the UK, with more than 15 companies contracted including Hammerson Plc & Network Rail.      

Founded in 1982, PFM Intelligence Group is one of Europe’s leading technology consultancies, working with clients to optimise their business performance. This includes measuring and counting footfall and visitor flows through their PFM Footfall Intelligence and PFM Counting Intelligence brands.   PFM’s acquisition of CoreTech Solutions is a key part of the firm’s international expansion programme and is the first of many acquisitions aimed at positioning PFM towards a top 3 position on European level.   

The combined capabilities of both companies will create a UK business partner offering a comprehensive suite of integrated technology solutions and critical data-led customer insight to retail and infrastructure clients, including people counting technology (footfall, dwell time and movement mapping data), network infrastructure, WIFI and CCTV, as well as many other services.  Following the acquisition, Managing Director Phil Cox will continue to run the business, alongside Operations Director Matt Hipwood, and Sales Director David Sturdy, with the CoreTech brand operating as a wholly owned division of the PFM Group, focusing on delivering the firms core service areas. 

“PFM’s investment into CoreTech is a ringing endorsement of the strength of our business and client services in the UK. It also instantly increases our market share and provides us with a significant operation from which to pursue further growth, offering clients a comprehensive single point solution for all of their technology requirements.   “Both CoreTech Solutions and PFM share a similar vision and values, and together we’ll provide a significant proposition for the retail sector, and beyond.  The cross pollination of our two organisations will enable us to offer the most comprehensive range of services, delivering additional value and invaluable insights to clients".
Phil Cox, Managing Director, CoreTech Solutions  

“The proven partnership with CoreTech was not only successful in the various complex projects, but also how we envision the future for our mutual clients. Both Coretech and PFM management believe in consistent and excellent service from which we can drive innovations in both hard- and software related product offerings". 
Bart Schmitz, CEO of the PFM Intelligence Group

Tags: people counting installations, News, customer monitoring

Footfall update since covid-19 in the UK

Posted by Carly Leget on Mon, May 31, 2021

Since the outbreak of Covid-19 in the UK, we have seen an unprecedented decrease in footfall. At its worst, footfall was almost 93% down on the same day compared to the previous year.

The chart below shows the footfall development over the last few weeks, combined with the number of covid-19 cases. We continue to monitor footfall numbers and share regular updates on its development.

Lockdown

The first lockdown at the beginning of March resulted in a massive drop in footfall. With non-essential stores reopening again in mid-June, footfall numbers slowly increased. In August we see a spike in the year on year chart, which actually indicates a narrowing of the % difference between 2019 and 2020. This was caused by the August bank holiday falling within different weeks each year. In 2019 it fell on Monday 26th August, and the index that day was much lower than the rest of the week, no doubt due to the nice weather and people choosing to do other things than shop on their day off.

In contrast, the 24th August, which is the comparable day in 2020, was just another day during the pandemic and footfall numbers were pretty static at the time. This, together with the drop in numbers in 2019 meant that the % difference was much less than norm at this time. What is interesting is that the bank holiday in 2020 did not show any drop in numbers as 2019 did, although perhaps not surprising as there was little else people could do at the time.

Footfall numbers were relatively stable until another slight peak right before the second lockdown started in November. After the second lockdown ended on December 2nd, visitor numbers increased towards a peak at the end of December.

Covid-19 cases

After the first peak of new Covid-19 cases between April and May, the number of new cases has fluctuated but maintained a downward trend before plateauing at the end of June through July and August to a lesser degree. However, from September the 6th, we have seen a noticeable increase in cases, culminating in the highest number of covid-19 cases on January 8th, after which, and because of the third lockdown, the number of cases have followed a downward trend.

Tags: people counting, News, customer monitoring