According to Dengeki PlayStation magazine, BlazBlue: Chrono Phantasma is being ported to the PlayStation Vita.
Set after the events of BlazBlue: Continuum Shift, the third game of the series was released on the PlayStation 3 in Japan on October 24th 2013 with a Western release due in March of this year. According to the magazine article, Arc System Works are bringing the game to the PlayStation Vita in Japan but no release window or a western release has been confirmed.
What has been announced is that any DLC will be shared with the PS3 version and the game will receive Arcade version updates also. In addition to this, beach events are also due to be added.
As always, for any updates or new information about this release, you can be sure to find them here at The Vita Lounge.