Nintendo plans for growth include acquiring dev companies

[PAOerfulone]

Nintendo's idea of acquiring devs, as based on past patterns, is very, VERY different from Sony and Microsoft's idea of acquiring devs.
When they bought Next Level Games, they had basically been an unofficial Nintendo studio at that point. They worked exclusively with Nintendo and only made games on their platform, so it made all the sense in the world when they were bought.
With Monolith Soft, their relationship with Bandai Namco had soured so much because they wanted to have creative freedom and BN wasn't willing to give it to them; Nintendo was. So, it made sense for them to become their subsidiary. Console exclusivity is a small price to pay for creative freedom for devs like Monolith Soft.
And even though they didn't buy Platinum Games outright, Nintendo was the only developer willing to publish Bayonetta 2 and give that series to a chance to continue at all. And it gave them a game/IP in their library that was noticeably different from their own and added some needed diversity.

Nintendo has never really been in the deep spending mode of acquiring studios like Sony, Microsoft, EA, and many other major publishers have. Whenever they DO make such an acquisition, it's usually smaller studios they already have close ties with and it makes more sense for both sides to be together than separate. And I see no reason to think how that approach will change with Switch 2.