Data fusion modeling can identify common features across diverse data sources while accounting for source-specific variability. Here we introduce the concept of a \textit{coupled generator decomposition} and demonstrate how it generalizes sparse principal component analysis (SPCA) for data fusion. Leveraging data from a multisubject, multimodal (electro- and magnetoencephalography (EEG and MEG)) neuroimaging experiment, we demonstrate the efficacy of the framework in identifying common features in response to face perception stimuli, while accommodating modality- and subject-specific variability. Through split-half cross-validation of EEG/MEG trials, we investigate the optimal model order and regularization strengths for models of varying complexity, comparing these to a group-level model assuming shared brain responses to stimuli. Our findings reveal altered $\sim170ms$ fusiform face area activation for scrambled faces, as opposed to real faces, particularly evident in the multimodal, multisubject model. Model parameters were inferred using stochastic optimization in PyTorch, demonstrating comparable performance to conventional quadratic programming inference for SPCA but with considerably faster execution. We provide an easily accessible toolbox for coupled generator decomposition that includes data fusion for SPCA, archetypal analysis and directional archetypal analysis. Overall, our approach offers a promising new avenue for data fusion.