Tablet is another good example of an area in which is closely adjacent to mobile computing and people want larger screen formats at times, and that creates an opportunity for us. So it’s both a market perspective as well as a technology perspective. And tactically, we’re reallocating resources across regions and areas to address these. We’ve started that already in Q3, and we’ll continue to do that as we enter 2004. Some are short-term opportunities and others are longer-term opportunities. But we think it’s important that we continue to be agile, not only in the cost side of things, but also on where we’re deploying our resources to see and address the most attractive growth markets for us and stay close to our current customers, but really shift resources are the places that we see recovering the faster or that we’re underpenetrated today, that’s how we see it.
Operator: We will now take a question from Brian Drab from William Blair. Brian, please go ahead.
Brian Drab: Okay. Thanks. Most of my questions have been answered, obviously, at this point. Can you just talk about Fetch and some of the other acquisitions that you made in 2021. You spent quite a bit of money in 2021 and the assets kind of averaged like 9x to 10x sales in terms of purchase price. Is there — can you just give an update on how Fetch and Matrox and the other business that you’ve acquired recently is doing? And is there any risk of impairment as you’re looking at that going into year-end here potentially?
Bill Burns: I think we can — starting maybe with software is the largest segment and some of the acquisitions we did around Reflexis and Antuit prescriptive analytics in that area. We continue to focus on the retail associates and really enabling the retail associate through a suite of products and solutions portfolio around work cloud as we’ve announced at our recent customer user event around software, and that seems to be resonating well with our customers. This idea that taking task management, workforce management, communication, collaboration, demand planning combining that into a single application, leveraging our mobile devices in the hands of the associates in retail, and it plays into what Joe talked about earlier, this idea for a device for everyone within retail.
So we see our software assets being important part of marrying with our mobile devices within retail and the idea of putting devices in the hands of more retail associates. I would say machine vision, $100-plus million market to us attractive, fragmented market overall. The focus there is manufacturing. We’ve talked about that earlier in the call, but also logistics and the idea of fixed industrial scanning, they continue to both look to ways to automate, to drive productivity, to improve quality across their organizations. I think the challenge to machine vision in the short term is the same as others are seeing, certainly, cyclical weakness in semiconductors where when we acquired the asset in machine vision, we knew Matrox was heavily weighted towards semiconductor and our objective there is to not only scale that business, but to diversify the offerings outside of semiconductor into new attractive markets.
They could include automotive, food and beverage, inside fixed industrial scanning warehouse and distribution. So all those are represent opportunities for us, and we’re excited about that market and our focus there is really diversification scale in driving share gains across machine vision. I would say Fetch and robotics automation or warehouse automation perspective, it’s the smallest, still nascent in that area. I would say we’re focused in two areas predominantly. First is Goods Transport. And again, we talked about that playing in line side replenishment, for instance, inside manufacturing, but also just good transport in general, of moving goods from A to B of varying sizes, that’s an attractive market for us. The other market is e-commerce.
So think of e-commerce picking, cobots and humans working together within that environment, where our devices today are being used by those workers to pick orders and adding additional productivity using automation and robotics is an interesting opportunity for us longer term. So it’s the smallest of the segment. We don’t see any impairment opportunities there or issues or concerns. We really find these three as attractive long-term growth opportunities for Zebra overall. And some are challenged in the short-term. As I said, machine vision is a good example of that with semiconductors, but we have the long-term prospects of the machine vision and fixed industrial scanning market remain very attractive to us.
Operator: Ken Newman from KeyBanc Capital Markets has a question. Ken, please go ahead. I’m sorry. Let’s go to Jim Ricchiuti from Needham & Company. Jim, go ahead.
Unidentified Analyst: [Indiscernible] on for Jim. Most of the questions that I had have been addressed, but maybe just one for me. for the incremental $15 million of savings, is that in any one particular area or just a broad deepening across the existing targeted areas? Thank you.
Nathan Winters: Not in one particular area, just broad-based, as we’ve worked through the plans throughout the third quarter and the fourth and scrutinized where we had to backfill certain roles with the retirement plans as well as just any open roles that have come along, just again scrutinizing that spend is really what drove it. So again, I would say fairly broad based and in line with the actions that we’re driving for the company.
Operator: And this concludes our question-and-answer session. I would like to turn the conference back over to Mr. Burns for any closing remarks. Please go ahead.
Bill Burns: Thank you. I’d like to thank our customers, partners, and employees for their support and dedication to our long-term success. Have a good day, everybody. Thank you.
Operator: Goodbye.
