C-Cube ( CUBE) , designers of semiconductors and software for digital video applications, was up 63.1% in preopen Island trading on news that chipmaker LSI Logic ( LSI) will acquire the company for $878 million in stock.

Each share of C-Cube will be worth 0.79 shares of LSI. In preopen Instinet trading, LSI was down 4.8% to $19.70.