Not sure how would they know about it unless the offer from those other 2 were to low and without NDAs. Otherwise they would hear only to late.

Also, while Nintendo has a lot less studios, they have a large list of affiliate studios which, while no subsidiary of Nintendo, still almost exclusively produce Nintendo games and are handling first-party IP on regular basis. HAL Laboratory, Next Level Games, Sora Ltd... these are all independent companies, but you are probably hard-pressed to name any non-Nintendo games from these developers, even though many of them have produced at least some at some time in history.

However, I do think they could do with some additional studios. After all, their exclusives is what will set Nintendo always apart even if they had similar hardware to the competition, and I think with their large array of dormant IP they could make good use of a couple new studios to revive those. However, that also means that they don't necessarily need to acquire new studios, it would be enough to just open new ones, or even just new locations on existing studios.

Yakuza and Persona say hello. Valkyrie, Shenmue, say Hello as well.

How exactly are Sega games most popular with Nintendo audience?

Sega makes a lot of money off PC, in fact I wouldn't be surprised if that was a majority of their sales come from. They have the Total War series which sold really well recently with it's China game, and of course those titles make a lot off expansions, heck they even licensed out their studio Creative Assembly for Microsoft's strategy games. That's why their "AAA" announcement at Gamescom was a PC-oriented Civilization-competitor. They also release the Yakuzas on there. If Persona ever came to PC, I would have no doubt that it would by far be their most profitable platform. 

But Platinum Games and Grezzo would be great pick ups. I kind of want Grezzo to get a second chance with their original IP, Ever Oasis. I'm not a big fan of ports but, that game looked really good and it seems like the kind of title that needs some consideration.

Huh? Nier Automata has sold over 4 million copies and the upcoming Babylon's Fall and Granblue Fantasy look pretty amazing as well.

This one was the first one that came to mind when I read the thread title.

Ironically enough I was just talking about in another discussion on the site how great Nier Automata's multi-platform sales were. 

While I agree with you that Platinum had a lot of success in-between Nintendo releases, in fact their largest success (and you can even look at stuff like Metal Gear Rising Reveangance or Bayonetta 1 which were all successful, Bayonetta 2 not getting a publisher mostly because Sega was near bankruptcy), Platinum has been treated inconsistently by most publishers.  

For context - Platinum Games actually got kicked off Granblue Fantasy, and Babylon's Fall was announced E3 2018 but hasn't been shown at all since, and despite an Automata sequel being hinted at many times it doesn't seem like Platinum is actually going to be involved with it this time around (considering they only have 200 staff but are working on Astral Chain, Bayonetta 3, Babylon's Fall, Granblue Fantasy, and at the time of the first Nier Automata sequel tease - Scalebound was pretty recently cancelled). 

It just seems like they're doing a lot without getting much credit or success. Wouldn't be surprised if Babylon's Fall was outright cancelled. They seem like the studio that sort of needs commitment from a publisher. 

Oh, I didn't know that.

What a bummer. PG's games are lit.

Sure Nintendo could buy them. I was just pointing that perhaps it is the worse in profits for sega currently.

Saying they were kicked off might be a bit too negative from me, we don't really know if it was a negative event or if their contractual work just naturally ended. But I think that also makes their work with Square on a potential Nier Automata 2 very unlikely. Nier Automata was a collaboration with Yoko and Platinum, but with Nier Automata selling 4 million and probably 5 million by the end of this generation, Square would probably want to develop it in-house. It's easily their biggest surprise hit this gen. And if Babylon's Fall is cancelled ... then yeah ... the only supporter right now is Nintendo.

That's how I see it anyways, but of course there's always the possibility their relationship with Square is great right now.