Sophoi Acquired By Oracle

Los Angeles-based Sophoi, a developer of media IP mananagement software, has been acquired by Oracle, Oracle said Monday. Financial terms of the buy were not disclosed. Oracle said that Sophoi's products will become available as Oracle Media Intellectual Property Management. Sophoi's product was used for intellectual property management at media and entertainment companies. Oracle said it expects that Sophio's management and employees are expected to become part of its Communications Global Business Unit. Sophoi was backed by Oracle which had funded the firm to the tune of $17.5M in 2007. Sophoi filed for bankruptcy on September 1st.