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What does diversifying mean?

Looking for the meaning or definition of the word diversifying? Here's what it means.

Verb
  1. present participle of diversify
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Such funds are expected to go instead to the costs of decommissioning and diversifying the coastal economy.
The company is diversifying and in any event, it is an oil and gas company, not just oil.
More and more farmers are now diversifying into non-food businesses such as horse-riding, farm shops and tourism.
Within a few years of arriving in Dublin, McKillen began diversifying his business interests.
We coded product extension and conglomerate acquisitions as diversifying acquisitions.
What's so attractive about diversifying from the insurance business and branching out into personal loans?

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