Sky.Garden, a technology startup based in the United Kingdom, has been acquired by Lipa Later, a London-based company that provides buy-now-pay-later services. The announcement of the acquisition has been met with smiles from both sides, with Lipa Later promising to retain Sky.Garden’s staff.
This is good news for Sky.Garden’s employees, who would have been unsure about their future after the acquisition. Initially, Lipa Later was only interested in Sky.Garden’s technology, so the possibility of their staff transitioning to a new workplace was real. With the new development, the transition can now at least be a relatively smooth one, barring any other changes that Lipa Later may implement.
Sky.Garden had seen rapid growth in the United Kingdom with their product, which was aimed at curbing out of control e-commerce spending with a buy-now-pay-later service. This was obviously of interest to Lipa Later, who were eager to purchase the necessary technology so as to stay competitive in their own field. However, Lipa Later also realized the importance of retaining Sky.Garden’s staff, seeing as much of the success of the former was due in no small part to the expertise of its employees.
Therefore, Lipa Later chose not to lay off Sky.Garden’s staff, but instead integrate them into their own operations. It’s expected that the technology and knowledge that the new staff brings will go a long way in increasing Lipa Later’s efficiency and pushing them ahead of the competition.
In short, the acquisition of Sky.Garden by Lipa Later was a great move for both parties. Lipa Later has gained access to valuable technology, while the staff at Sky.Garden can rest easy knowing that they will still be employed, providing their experience and services to their new workplace.