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pikashoe said:

Maybe, but the thing with Activision is that a lot of that is mobile and pc. Whereas square Enix has a lot of big series on consoles. That and Sony are currently far ahead of Microsoft in terms of marketshare. Now if marketshare changes significantly in favour of Microsoft, then maybe.

Square Enix has a few decent sized franchises, they're still dwarfed by CoD on console.

They also have a mobile segment and a game that is massively successful on PC. 

Square Enix isn't that much bigger than Bungie, which that acquisition went through far easier than Sony even expected.