Square has licensed the Gamebryo engine, which has powered games like Fallout 3, Dark Age of Camelot, and Playboy: The Mansion, for use in a game that shall remain secret until they deem us worthy. Why Gamebryo?
"Gamebryo offers a flexible framework, allowing us to develop effectively and efficiently for any target platforms," said John Yamamoto, president and chief executive officer of Square Enix. "Gamebryo's engine provides the ability to integrate our internally developed tools into a proven, stable tech solution which allows for more time to be spent on innovative and creative gameplay."
Square's The Last Remnant marked the first time the company brought in unfamiliar technology to create a game, rather than using their own in-house tools.
As far as the new project the Square Enix plans to build using the Emergent technology, all we currently know is that it's part of the company's efforts to grow its business further in all major global markets. We tried to get them to be more vague, but the things happened.