Significant Customers

12 Months Ended

Dec. 31, 2014

. Significant Customers

The Company markets its products and services throughout the world to original equipment manufacturers (OEMs) and systems integrators in the building, industrial, transportation, utility/home, and other automation markets. During the years ended December 31, 2014, 2013 and 2012, the Company had two customers that accounted for a significant portion of its revenues: Avnet Europe Comm VA (“Avnet”), the Company’s primary distributor of its IIoT products in Europe, and Enel Distribuzione Spa ("Enel"), an Italian utility company. For the years ended December 31, 2014, 2013 and 2012 the percentage of the Company’s revenues attributable to sales made to these customers was as follows:



	Year ended December 31,
	2014	2013	2012
Avnet	26.2%	26.6%	9.5%
Enel	7.7%	16.1%	4.5%
Total	33.9%	42.7%	14.0%

Avnet is an indirect subsidiary of Avnet, Inc., a New York corporation, which is a distributor of electronic parts, enterprise computing and storage products, and embedded subsystems. Our agreement with Avnet has been renewed periodically and is now set to expire in March 2015.

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

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