Significant Customers

12 Months Ended

Dec. 31, 2017

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, 2017 and 2016,the Company had one customer 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 Japan. For the years ended December 31, 2017 and 2016, the percentage of the Company’s revenues attributable to sales made to this customer was as follows:



	Year ended December 31,
	2017	2016
Avnet	28.0%	28.7%

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 renews automatically on May 31 of each year unless either party, in its sole discretion, gives notice of its desire not to renew at least 90 days before the expiration of the then current term.