Sony should acquire...

Capcom
From Software
Sega (or at least the Yakuza/Atlus divisions)
Rockstar

Then they can crush the dreams of all those port beggars! Mwhahahahahahaha!

I am a xbox player, but i really like the idea of Sony buying Mediavision. I really miss the wild arms games.
Off Topic:
About From Software. I prefer they develop exclusives for the 3 console makers: Bloodborne for Sony , a new Otogi game for Microsoft and Lost Kingdoms 3 for Nintendo.
And  bring back Kings field pleeeeease

Rocksteady.

I dont think sony will buy studios that are already making games exclusively for playstation like housmarque, bluepoint and insomniac. Sony already has enough studios that can deliver story based single player games, VR is also covered. Right now sony only needs studio that can deliver on Multiplayer games and arcade racers, Sony needs somebody who can revive Socom, Warhawk and twisted metal series.

My wishful thinking is Sony should buy only one studio BUNGIE, I know they dont wanna be first party but if insomniac is in the mix then i would prefer bungie.

Also I strongly feel sony will not buy any major studios, but instead several exclusive gaming deals, and i think major one could be GTA6.

Blueprint would be nice but have they created their own games? I know their ports are great, but I would like them to make their own games and I'm not sure if they have a track record for that.

They need a arcade racer studio. Should have kept Evolution going. A new Drive Club would be amazing for launch, and I'm not sure if Rushy and crew are still at Codemasters.

A Japanese Dev would be perfect. I would say platinum if Hideki Kamiya wasn't part of it.

Bungie would be a great buy. They could help out with killzone or create a new IP. We know they are capable of making third person games as well fps.

YS. Net. Not so much for Shenmue, but games Yu Suzuki is capable of creating. They could start off making AA games before being given a larger project. Yu Suzuki is behind some of the most iconic games of the 80's and 90's and I rate him higher than Miyamoto since Yu has a larger variety of games behind him and was one of the first console devs to bring 3D to home console.

Bring back Zipper Interactive. MAG was easy ahead of its time. Had it been released this gen, it would have been a success story.

I think the other fun thing to consider would be what partnerships they could form as they aren't just looking to buy studios, but possible create exclusives via partnerships.

I would love Capcom to make the next PSASBR in the form of power stone.

Additionally, maybe they could create a new studio made up of former DSI devs who created some of the most amazing games. They were behind PoP, another world, and before there was mass effect, remember there was Fade to Black.

I'm also not sure if they will, but considering the moves Microsoft is making by going on acquisition sprees, they probably should be looking to expand. Especially if their core business depends on Playstation remaining the #1 box to play games.

With Google looking to justify their Stadia investment and Microsoft announcing new acquisitions on a regular basis, this is as much of a defensive move (preventing a competitor from getting exclusives) as it is an investment on solidifying their own first party offerings.

There's no exclusivity possible on GTA6 anyway. Less than 0% chance of that happening. Kojima Prod should be a no brainer anyway, and if pleasing the hardcore is really the strategic decision, then From Software should be on the top of their lists. Not sure there's another development team they could sign that would have a louder impact among the hardcore gaming audience.

I think Insomniac, Bluepoint and perhaps Remedy are all likely candidates.

I don't want them to acquire anyone. But i'd be ok with is Insomniac because they pretty much only make PlayStation exclusives anyway, and bluepoint don't do much other than porting and remaking old games, 8/10 of their ports/remakes are also PlayStation exclusive. So acquiring either of these two wouldn't be so bad as it's not going to result in taking content away from other platforms.

I don’t see them snagging anyone big. Per their recent remarks shared through various articles, they’re sticking to a big graphical showcase narrative game philosophy. So maybe Remedy, which makes good games, but isn’t a big name studio really. I would compare them to probably every company MS has acquired except Obsidian and Playground.

Maybe buy some smaller studios to focus on GaaS MP titles. Why waste money buying a Japanese studio when they get so much de facto standard Japanese content?

I'm unaware of any game by Falcom or Media Vision that has been censored. In fact the vast majority of games hit by the recent crackdown are Visual Novels. From what I can see the only JRPG's affected are the following:

Omega Labyrinth Z
Brave Neptunia/Super Neptunia RPG
(Omega) Labyrinth Life
Sword Art Online: Alicization Lycoris

The vast majority of JRPG's are not affected, no need to blow it out of proportion. Persona, Final Fantasy, YS, Dragon Quest, Kingdom Hearts, Ni No Kuni, Tales of... like most JRPG's the big series are unaffected.

Company accepting purchase have more to do with money offered than they releasing games for that platform before. Rare hadn't a big historic developing for Xbox when they got bought by MS.