Insight Communications cofounders Michael Willner and Sidney
Knafel are making an investment in Penthera Partners and plan to run the
new-media technology venture.
Privately-held Penthera has developed software that moves
high-definition video between the cloud and smartphones, tablets and IP-enabled
set-top boxes. Its Ribit video-sharing product is available at the Apple store.
Willner will serve as Penthera's CEO and Knafel will be vice
chairman.
Time Warner Cable bought Insight for $3 billion in February.
"I've devoted much of my career to delivering
forward-looking, innovative TV and broadband services to U.S. consumers,"
Willner said in a statement. "Now, as consumers are shifting their viewing
habits, they're viewing, creating, and sharing video on smartphones, tablets,
and other Internet-enabled devices. With its rich portfolio of products and
intellectual property, Penthera is uniquely poised to help the cable industry
and other technology companies roll out innovative IP-based video solutions.
