Willner Makes Investment in Cloud Video Company

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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.