Square Enix publish a tonne of Japanese games (and, recently, a lot on non-Japanese ones too). Bigpoint is a portal for a tonne of browser-based games. The two are teaming up for an unannounced project. Excite!
Though details are scarce, the project is said to be “well into development” already. It will be a social game with a strong emphasis on user-generated content. It should be properly revealed in the next few weeks and out within the next six months.
New IP or something of a spin-off? Could be interesting.