Since SNK owns a significant amount of IP that's not in the genre, it won't be easy to figure out exactly what the collaboration is about.
SNK has announced that it will be working with Arika on an IP that won't be, say, Samurai Shodown. SNK, which is owned by the MISK Foundation (a non-profit company affiliated with the Saudi Crown Prince), has more than 200 gaming sites, including Neo Geo. The company is now reviving and relaunching its older IPs, and part of that is collaborating with Arika (they recently worked on Tekken 8, but are also associated with Tetris 99, the Street Fighter EX series, and Tetris: The Grand) who have mastered arcade games, or For example they developed Mega Man Network Transmission).
There are a lot of IPs that could be listed for what they can offer to modern audiences. Ikari, Psycho Soldier, Time Soldiers, Mechanized Attack, Thrash Rally, Puzzle Bobble (aka Bust-a-Move), Windjammers, Ironclad, Metal Slug… and these are just the titles that got an Arcade or Neo Geo look. In the case of fighting games, it is not clear whether we should look to the beat 'em up genre or not, because there are many examples that could be successful even today (for example, Spinmaster).
We can even mention IPs that appeared on Nintendo's platform(s): Athena, Alpha Mission, Iron Tank, and we won't mention golf or baseball either, because we don't see much benefit in the update. However, due to the type of fighting, Samurai Shodown, The King of Fighters, Fatal Fury, The Art of Fighting, The Last Blade, or for example World Champions can be excluded, among these are The King of Fighters, Fatal Fury and still Samurai Shodown Gets new games regularly.
At the moment, we don't have much information about the collaboration, and SNK also said that we can expect more details later.
