Despite near simultaneous releases for two portable games in Beyond the Labyrinth and Frontier Gate, it seems that tri-Ace isn't done yet with portable development. Game Jouhou reports that Level-5 has tapped the studio to develop Little Battler eXperience W. The site did not provide a source (although it's presumably this week's Famitsu).
tri-Ace is known for such franchises as Star Ocean and Valkyrie Profile. In addition to Beyond the Labyrinth on 3DS and Frontier Gate on PSP, both published by Konami, the studio contributed to Final Fantasy XIII-2's development.
Little Battler eXperience W is a PSP sequel to last year's Little Battler eXperience. It was announced alongside Little Battler eXperience Explosive Boost on 3DS.