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I think there would be a huge advantage for Nintendo to acquire Sega's IP, I don't think there is much value for Nintendo to acquire Sega's developers though ...

Nintendo could take the top Sega franchises, release a good version (or two) of these games in a generation to massive sales, and probably see a significant boost in overall game and system sales. Unfortunately, Sega is a shadow of the developer they once were, and I doubt they could deliver the quality these games would need to be unless the studio's were heavily restructured and received a lot of hand-holding from Nintendo.