From Longman Business Dictionary
diversifydi·ver·si·fy /daɪˈvɜːsəfaɪdəˈvɜːr-, daɪ-/ verb (past tensepst and past participlepp diversified) [intransitiveI]1COMMERCEif a company or economy diversifies, it increases the range of goods or services it producesdiversify intoSingapore has diversified into a wider range of industries.
diversify fromThe UK Department of Energy is urging farmers to diversify from traditional crops and consider using land to grow wood for fuel.
2to start to put your money into different types of investments in addition to the investments you already haveDepositors in the eurocurrency markets sought to diversify into dollar bonds.
—diversification noun [countableC, uncountableU]The company intends school software to be a major new area of diversification for their business.
a policy of gradual economic diversification away from fishing
Financial deregulation in Japan has led to increasing international diversification of investment portfolios.
The record company’s diversifications into sports clothing and perfumes has resulted in increased profitibility.