I've been saying for quite some time that Nintendo should buy High Voltage Software. They suck when it comes to art direction, gameplay development, etc... but their engine development skills are exceptional, considering what they were able to achieve on the Wii with their Quantum 3 engine (in terms of raw graphical technology).
So they should buy HVS, and get them working on a new engine for NX. As for their game-development, arrange some more capable developer, maybe Retro, to oversee it.
Other than that, Sega/Atlus is the natural choice for a publisher acquisition. Sega has some IP that would blend nicely into Nintendo's existing IP set, and also some IP that are very un-Nintendo. Atlus mostly has un-Nintendo types of IP. So acquire Sega/Atlus, and then do a bit of rearranging. The "Atlus" brand would hold the "mature" type titles that are dark and gritty, the "Sega" brand would hold titles that are more in the "cool" range (edgy, but suitable for a wider age range), and the "Nintendo" brand would hold titles designed to appeal to everyone.
Koei/Tecmo is an interesting possibility, but I'm not sure they'd gain enough from it. Other than Sega/Atlus, Nintendo would be best-served by acquiring a western publisher. Perhaps Zenimax?
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