"It has been a great pleasure to collaborate with Obsidian," GPG founder and Dungeon Siege designer Chris Taylor said in the announcement. "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."
Singleplayer and "an extensive multiplayer component" are promised with "a deep story that only Square Enix and Obsidian Entertainment can deliver"--though be warned that Square Enix made a similar promise for NIER. While Taylor mused in 2008 that he would remove companion characters from DS3, were he making it, they are present and said to have "unique personalities, abilities and views on the world around them."
A release date has yet to be announced for the PC, Xbox 360 and PlayStation 3 title.