It'll include two new campaigns and a swag load of new missions and commander skills, including a new 'Breakthrough' multiplayer mode. Work for the crown in unscrupulous ways.
"East India Company: Privateer introduces players to a dark and mysterious world with allegiances only to fortune and a thirst for destruction," blurb Paradox.
They explain what the new multiplayer mode is: "In Breakthrough, one team will attempt to escort their flagship to safety while the other team tries to destroy the enemy ship."
The expansion includes two new campaigns where you play as a privateer for your chosen nation, and go on new missions like escorting friendlies, scuppering or pinching vessels and blockading ports.
Paradox say to "keep an eye" on the official website for more on Privateer. Meanwhile though you can check out the trailer.