ReliOn, a Spokane, Wash.-based maker of fuel cells, has received a strategic investment from the publicly traded power generation company Cummins Inc. The amount of the funding was not disclosed, but ReliOn, founded in 1995, has raised roughly $30 million over the years, including from Oak Investment Partners and Chrysalix Energy.

Centric Software, a provider of PLM software, has closed on $19 million in series C venture capital financing. Investors include Oak Investment Partners, which led the funding round, and Masthead Venture Partners. The most recent funding was the $11.6 million tranche of the Series C financing.

NanoH2O, a manufacturer of cost effective reverse osmosis membranes for seawater desalination, has appointed global operations veteran, Doug Barnes as chief operating officer. The business is backed by Oak Investment Partners, Khosla Ventures, BASF Venture Capital, Total Energy Ventures International and Keytone Ventures.

Wellington Financial has provided debt financing for SmartDrive Systems of San Diego, CA. The financing closed in conjunction with a $47 million round of equity financing. SmartDrive provides web-based driver safety and fuel solutions for fleet enterprises globally. SmartDrive is backed by leading venture capital firms, including New Enterprise Associates and Oak Investment Partners.

Deal lawyer Chris Manderson explores exit options for sponsors, including “emerging growth company” IPOs enabled by the JOBS Act, dividend recaps, real estate investment trusts and more.

Verisk Analytics, Inc. said it signed an agreement to acquire Argus Information & Advisory Services, LLC. The purchase price is to be $425 million, and as part of the transaction, Verisk expects to realize about $45 million in tax benefits. Oak Investment Partners is an Argus investor. PRESS RELEASE Verisk Analytics to Acquire Argus Information [...]

Turner Broadcasting System, Inc. said it acquired the venture backed Bleacher Report. The sports property has backers including Crosslink Capital, Oak Investment Partners and Hillsven Capital. PRESS RELEASE Turner Broadcasting System, Inc. Acquires Bleacher Report
Leading Sports Digital Property Joins Turner Sports Portfolio Turner Broadcasting System, Inc. has acquired Bleacher Report (B/R), one of the fastest-growing [...]

With the deal, the Troy, Mich., company becomes the latest GSR-funded electric-vehicle firm to set up manufacturing in China. Last year, battery maker Boston-Power raised more than $125 million to construct a Chinese manufacturing plant for its lithium-ion batteries.

SmartDrive Systems has raised $47 million in additional venture funding led by Oak Investment Partners and New Enterprise Associates. Stanford University, a new investor, also participated. San Diego-based SmartDrive provides driving intelligence solutions that aim to improve safety, reduce collisions and improve fuel efficiency. PRESS RELEASE SmartDrive Systems, a market leader in driving intelligence solutions [...]

Castlight Health, a provider of health care transparency solutions for employers and payers, has appointed John Driscoll as president. Castlight Health is headquartered in San Francisco and backed by investors including Allen & Company, Cleveland Clinic, Maverick Capital, Morgan Stanley Investment Management, Oak Investment Partners, Redmile Group, T. Rowe Price, U.S. Venture Partners, Venrock, Wellcome [...]