Electronic Arts and Insomniac Games said today that they will launch the four-person co-op sci-fi shooter Fuse on May 28 in North America and May 31 in Europe.

The highly anticipated title is a big bet on a new intellectual property by Insomniac. It is the developer’s first major console game that isn’t captive on Sony’s platform. The title will launch on the PlayStation 3 and Xbox 360.

Insomniac ran late with this game. That sort of problem is why EA chief executive John Riccitiello no longer has his job — not that it’s Insomniac’s fault. That just tells you how important this game is to the two companies.

Fuse stars four elite covert agents — Dalton Brooks, Izzy Sinclair, Jacob Kimble, and Naya Deveraux — each with his own Xenotech weapon and set of unique skills. They have to band together to protect mankind from a deadly alien energy known as Fuse.

“Insomniac Games is known for delivering best-in-class weaponry that breaks the mold of traditional video games — and Fuse is no different,” said Ted Price, the chief executive officer and founder of Insomniac, in a statement. “These Xenotech weapons further the innovation players will find in this unique action co-op shooter. We can’t wait to bring Fuse, our first multiplatform game, to gamers worldwide this May.”

EA is offering bonuses for those who preorder the game.