Gartner, Inc., a privately-held technology research firm, has entered into an agreement to purchase L2, Inc. for an undisclosed amount. Founded by professor-turned-entrepreneur Scott Galloway, who started the company as a research project, L2 is a data and intelligence platform that benchmarks the digital performance of brands so businesses can identify digital strengths, weaknesses and opportunities. L2 will continue to operate independently until Gartner completes its earlier acquisition of corporate performance solutions firm, CEB Inc., which the company secured for $2.6 billion in January.

In his blog, Scott said, “The most rewarding part of the experience was, after we signed, sitting down with L2 employees and telling them what it meant for them. They all received a transaction bonus, and many had ownership via options….Their emotion was a mix of excitement about the victory / validation, happiness for me and other early employees, and a sense of relief and joy at the economic bump and freedom this money would provide them.”

L2 complements Gartner’s existing digital marketing research and advisory services as the company is hoping to further accelerate its long-term growth in its marketing-focused business. The acquisition is expected to close by the end of March 2017. Terms of the deal were not disclosed; however, Scott reveled, “I’m giving a bunch of money to universities.”

L2 employs approximately 150 associates in New York City and London.