Like how Embracer got Square's studios and IP's in the west for a pittance. 

Pretty much. It's tough times for a lot of companies so they're looking to make a quick buck any way they can, which sadly usually means mass layoffs.

At least under Nintendo Shiver should be better off.

Interesting part from this announcement is below:

"By welcoming Shiver’s experienced and accomplished development team, Nintendo aims to secure high-level resources for porting and developing software titles. Going forward, even after it becomes a part of the Nintendo group, Shiver’s focus will remain the same, continuing commissions that port and develop software for multiple platforms including Nintendo Switch."

I think that the statement that says they will continue commissions that port and develop software on multiple platforms is meaning that they have existing contracts that they will need to fulfill before Nintendo can use them. What I don't totally know is it is also referring to continuing commissioned work post those contracts. As it also says developing software.

I think the most obvious future for this studio is for them to become a in-house port studio of big 3rd party IP's. Think GTA and such level. This will ensure Switch 2 gets those titles and will allow the developer of those games free up resources and take less risks on the Nintendo version.

Ultimately this is not a game changing addition for Nintendo, this company is about 25 people. I do think Nintendo may increase that number over the next 2 years or so to try and get like 3 or so port teams active there. But that is all to be seen. Ultimate I think this is a smart move whether this team will be porting/remaster Nintendo games, becoming a support studio, or porting third party titles.

I hope this means that Nintendo might be buying some more of Embracer studios.

In the context of the coming generation, the purchase makes a lot of sense, albeit I do not think Nintendo will actually go out of their way for any acquisitions of the sort in the near future now. They'd most prefer to expand Shiver as you said earlier to make them work on more than 1 project at a time than acquiring another studio for the same purpose.

It has to feel pretty good for the Big N to recognize your technical skills on their hardware by outright purchasing your whole team. These fellas have certainly squeezed every literal bit of power they could from the Switch so for Ninty to get to them they must be impressed at least a bit for what they've achieved and how.

The team is 25 people? Yeah that doesn't strike as porting GTA6.... strikes me more as Nintendo online ports of legacy titles. Which is cool. Gamecube has a lot of gems.

Monolith Soft had 75 employees in 2011. They now have 264.

Nintendo will grow the studio if they see the need.

For sure.  Though I would guess, giving scope of GTA6, porting will require hundreds of people.  I could be wrong.

They did pretty good job on Hogwarts - it does, in direct comparison to something like PS5 version, looks like something from PS360 era, but props to them for making it run on Switch while not being "let's pull native resolution down to a pocket calculator levels" kind of port.

It won't come anyway. Don't set yourself up for disappointments.