A company engaged in varied business operations, many of which seem unrelated. A conglomerate is designed to have reduced risk, since its various operations are affected differently by business conditions over time. In addition, it is possible for a conglomerate to redistribute its corporate assets depending on which operations show the most promise. Conglomerates were popular among investors during the 1960s, but investors' interest in them faded during the 1970s and the 1980s. By the turn of the century, many companies were selling or spinning off parts of their businesses in order to become more specialized.