“We’re looking to diversify our portfolio.”

Implied:

“May I call you Lebowski? Great. So, it turns out that focusing on ONE product in this marketplace is not really viable long term, so we need to start acquiring more products and services to augment our current portfolio. Why? It’s about the money, Lebowski. Improve our own product to our current customers? Sure, that might happen. Coincidentally.”

Or alternatively

“Diversification is about corporate survival and NOT our products. Products come and go, but corporate is forever. Remember that when you invest in your next IoT thingy.”

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