Many companies continued to grow by merging with or buying competing firms.是什么意思？

Many companies continued to grow by merging with or buying competing firms.

许多公司通过合并或收买竞争对手的公司而不断扩大.

many

adj. 许多，多的；pron. （与复数动词连用）大多数人；

例句
There are many people who still find the act of abortion abhorrent.
仍有很多人对堕胎行为表示厌恶。

companies

n. 公司( company的名词复数 )，[军事]连，连队，客人；

例句
The workforce have recently been calling for their working hours to be reduced. Many companies have accordingly switched to a five-day week.
工人们最近一直在呼吁缩短工作时间。许多公司于是转成了一周五天工作制。

continued

adj. 继续的，延续的；v. 继续，连续( continue的过去式和过去分词 )，持续，逗留，停留；

例句
Another policeman has been injured as fighting continued this morning...
今早又有一名警员在冲突中受伤。

to

prep. 向，朝着，到，关于，属于；adv. 朝一个方向的，到某种状态，关闭；

例句
I suggest you leave it to an expert...
我建议你把它留给专家来解决。

grow

vt. 种植，扩大，扩展，增加；vi. 生长，渐渐变得，逐渐开始；vt.& vi. （使）留长，蓄长；

例句
Air travel will continue to grow at about 6% per year...
乘飞机旅行的人数将以每年大约6%的速度持续增加。

by

prep. 在…旁边，表示方式，由于，经过；adv. 经过，表示保留或保存时用，短暂拜访；

例句
...expensive make-up that we saw being advertised by a beautiful model...
我们所见的由一位漂亮模特代言的昂贵化妆品

merging

n. 合并（分类）；v. （使）混合( merge的现在分词 )，相融，融入，渐渐消失在某物中；

例句
Successfully merging two banks requires a fast and ruthless attack on costs.
成功合并两家银行需要坚决快速地着手解决费用问题。

with

prep. 和，跟，随着，关于，和…一致；

例句
A waiter entered with a tray...
侍者端着托盘进来了。

or

conj. 或，或者，还是，不然，否则，左右；prep. <古、诗>在…之前，比…更早；n. [纹章]黑金色、黑色；

例句
We are scared to abandon ourselves to our feelings in case we seem weak or out of control.
我们不敢放纵自己的情感，以免显得太过软弱或缺乏自制。

buying

n. 购买；v. 购买，购得( buy的现在分词 )，做出牺牲以获得，够支付，买通；

例句
Up to two thirds of 14 to 16 year olds admit to buying drink illegally...
14到16岁的青少年中多达2/3的人承认非法买过酒。

competing

adj. 对抗的，竞争的，相互矛盾的；v. 竞赛(compete的现在分词)；

例句
...parties competing across the political spectrum...
政治纷争中的各党派

firms

n. 公司( firm的名词复数 )，（价格稳定的）市场，球迷帮（一帮衣着时髦、鲁莽无知、常使用暴力的英国足球迷），[商业]实盘；

例句
The most acquisitive firms tend to be engineering groups.
最贪得无厌的公司往往是工程队。