According to Kinda Funny's Greg Miller, he had heard rumblings of PlayStation trying to buy Square Enix a while ago. Both Miller and journalist Jeff Grubb teased a big PlayStation-related acquisition a few weeks ago, but couldn't share specifics. Miller went on to note that the information he was given wasn't explicit, meaning he wasn't sure if the whispers he had heard referred to Square Enix's western studios or the Japanese side of the publisher. Grubb had previously stated that he had also heard the Square Enix acquisition rumor, but seemed to echo Miller's thoughts about the lack of clarity on specifics. Whether or not Sony lost out on a deal on those western teams remains a mystery. PlayStation remains bullish in its efforts to acquire more talent, but hasn't indicated who it has set its eyes on next.
It's possible Sony wanted to acquire Square Enix's Japanese teams, but that meant the western teams had to be sold off to someone like Embracer. As of right now, there are a lot more questions than answers. If something is cooking, we'll likely find out in the coming months. Final Fantasy XVI is slated to be a PlayStation exclusive, so there is already a strong relationship between the two parties, but only time will tell if it's strong enough to merge the two.
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Source: https://comicbook.com/gaming/news/playstation-insider-square-enix-acquisition-rumors-greg-miller-embracer-group/
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