Publisher Square Enix announced today that Obsidian Entertainment has been tasked with development duties on Dungeon Siege 3, the next entry in a classic action RPG franchise originally crafted by Gas Powered Games lead Chris Taylor.

Although the torch has been passed to Obsidian, Chris Taylor himself is serving as an advisor on the project. Set to feature an “all-new co-op multiplayer mode,” the release of Dungeon Siege 3 on Xbox 360 and PS3 will mark a franchise-first on console platforms. It’s also set to hit PC, of course.

Fans can look forward to a deep story packed with highly customizable character classes, each with a distinct array of abilities to choose from. Additionally, akin to BioWare’s Mass Effect series, players will be presented with “weighty” game-changing decisions as they progress.  Paths chosen can make a direct impact on the main story, crossing alliances and the emergence of foes.

A release date for Dungeon Siege 3 has yet to be announced.

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