While Compile Heart was founded by an executive from Compile, the Idea Factory subsidiary never owned the rights to Compile’s library. Compile Heart focused on new games like Octomania, Neptune, and the Record of Agarest War series instead.
Today, Compile Heart announced they obtained the rights to Compile’s back catalog from D4 Enterprise. The deal includes many classic shooters including Power Strike, Blazing Lasers, Zanac, and Aleste. Sega purchased the rights to Puyo Puyo years ago so that’s probably not part of the transaction.
Compile Heart has not announced or developed a shooter to date. But, Compile Heart bought the rights to Compile’s intellectual property library for a reason. Maybe they’re going to start making shooters by reviving an old series?