Canada striker Iain Hume has completed his £500,000 move from Tranmere to Leicester and signed a three-year deal.
Hume could eventually cost £750,000
The Foxes will make a further payment of £250,000 for the 21-year-old if they are promoted, and Rovers have included a 10% sell-on clause.
Another forward, Elvis Hammond, 24, has also made his loan move from Fulham to Leicester permanent for an initial £225,000 and signed a three-year deal.
Meanwhile, young Foxes striker Tommy Wright has joined Blackpool on loan.
The 20-year-old will be at Bloomfield Road for the next five months.
Hammond has already been at the Walkers Stadium since the beginning of August. His fee could eventually rise to £350,000.