A third entry to the classic Dungeon Siege RPG franchise has today been announced by Square Enix, and is currently in development at Obsidian Entertainment, with input from Gas Powered Games’ studio head Chris Taylor, the original developer of the franchise.

Dungeon Siege 3 will be released for the PlayStation 3, Xbox 360 and PC come launch time, featuring an all-new cooperative multiplayer mode and will “seamlessly blend intuitive action gameplay and a robust RPG system in an immersive world where every decision the player makes will result in consequences.”

Impressive.

Chris Taylor commented on the opportunity to work on Dungeon Siege 3 as an advisor:

“It has been a great pleasure to collaborate with Obsidian. They are a very talented developer who really knows what it takes to build a deep and engaging RPG experience, and I can’t think of a better group to continue the Dungeon Siege series.”

And because it’s always more fun to hear the proposed story of a game straight from a press release, here’s the back-history of the world in which Dungeon Siege 3 will take place:

Dungeon Siege 3 Story:

”Torn asunder, the delicate balance of power between the kingdom of Ehb’s powerful factions has fallen apart. As one of the few remaining members of the disgraced protectors of the land, the 10th Legion, it is up to you to rebuild the once great Legion and stop Ehb from falling into darkness.

“Joined by a group of unique companions, you will travel through the striking land of Ehb defeating all manner of villains and beasts through a combination of heroic abilities, screen shaking magic and fearsome weapons.”

No release window was announced, but there’s sure to be more information waiting in the wings during E3 next week.