It’s been announced by publisher Square Enix that Dungeon Siege III is in production by Obsidian Entertainment and is apparently being supervised by the original creators Gas Powered Games.

The game will be coming out on the PS3, Xbox 360 and PC, has four-player co-op, a press release on All Games Beta revealed (thanks VG247).

"Allying the intuitive gameplay of an action game with a proven role-playing system, Dungeon Siege 3 will take place in an immersive world where each of the player's decisions will have consequences," the site says (after translation).

The storyline involves a tiff between various mighty forces. The protagonist is the protector of Ehb, a dishonored kingdom and it’s up to them to reunite the factions.

It’s apparently a “totally multiplayer” experience, “with friends or online”, and will also have in-game players to recruit.

There’ll be more information come E3 next week.