Last year, Valve introduced "The International," a Dota 2 championship with a one million dollar prize. Held in Germany during Gamescom, it was the game's public debut and tested the skills of the "best Dota teams in the world."
Apparently, "The International" is an annual affair, as Valve has announced plans for a second competition. Like last year, a million dollar grand prize is at stake. However, this year's competition will take place during PAX Prime in Seattle.
"The International" 2012 will run from August 31st through September 2nd. Valve plans on broadcasting the competition in multiple languages, free of charge.
Ironically, this year's announcement of the tournament largely mimics last year's, including the text about a release coming "this year." Oh, Valve Time.