Complex sentence: In 1980, he and several of his Univ. of Virginia friends formed a role-playing game company called Iron Crown Enterprises and acquired the license to make games based on "The Lord of the Rings".
Split into simpler sentences: In 1980, he and several of his Univ. of Virginia friends formed a role-playing game company called Iron Crown Enterprises. ICE acquired the license to make games based on "The Lord of the Rings".