The businesses they acquire are ones whose revenue has not appreciably grown in many years. They are being sold because the prior owner does not believe they can improve the business any more.

Any profit bending spoons earns they can run off and invest in another business if they like. They don't bother investing in the businesses they purchase because they believe, like the previous owner believed, that there is no more juice to squeeze from that particular lemon.

Just like Computer Associates.

https://en.wikipedia.org/wiki/Computer_Associates