One method for business expansion is to actually buy the website of one of your direct competitors.
This happens when you actually have the budget to buy, and the competitor at the time is willing to sell to you.
This happens when:
Case 1: The competitor hasn't been doing well financially and needs someone (such as you) to take over the whole business.
Case 2: The owner/competitor has lost interest to continue running his/her business.
Case 3: The competitor has been doing so well, but is open to sell with the "right price".
If it's case 3, then it would be very expensive to buy.
If it's case 1, you may think twice before buying it. But once you've figured out how to turn around a "downward going" business, then you may be confident.
If it's case 2, that's the best scenario.
Let's assume the purchase is for mainly SEO purpose.
The competitor website has been ranking very high on Google for most of the "money" search queries, and at the same time has a lot of useful content as the base to support the all the ranking.
That would be a great purchase.
Now you should consider how to integrate the large amount of Google organic search traffic with your existing website, that is probably not doing relatively well when it is compared to the competitor website.
You may think of redirecting all the traffic from the competitor website to your existing website. i.e. Redirecting all the pages from domain A (with great content) to domain B (with below average content).
That may not be the best way to integrate.
It's tempting to simply implement URL 301 redirect from the competitor website to your website. Usually you would think, your website will get all the link juice and PageRank. It does, in a way. But let's think about user experience, etc.
Think about Google's RankBrain.
The competitor website is ranking well on Google SERP, it may have many reasons contributing to it. But in terms of content quality, when the competitor website has much high quality than your website's content quality, then it says it all.
Simply redirecting all the visitors to your website won't help or improve any content quality. That's exactly what the problem is. The high quality content matters. Also after the next few rounds of ranking update, you may see a slight increase in ranking to your website, but that's all.
Later, if your website suffers an overall ranking decrease, it may be due to your website's relatively lower quality content (when compared to your competitor's higher quality content in the first place).
In simple words, you'll not take full advantage of the purchase.
An improved and better method is to keep the competitor website running as it is. When visitors on the competitor website purchase the products, you're still making profit.
If your website and the competitor website happens to offer mostly the same products, but your website may offer a few slight different products, then you can use the competitor website to upsell or cross-sell your website's products.
If it makes sense, you may consider interlinking the two websites.
Think of the whole scenario in the "business" direction, not the other way (i.e. the SEO direction).
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