C-Cube Rockets 63.1% on Buyout

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.

More from Technology

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists

Jim Cramer: Okta Is a Very Expensive Stock

Jim Cramer: Okta Is a Very Expensive Stock

Here's Why Tesla's Solar Shakeup Makes Sense

Here's Why Tesla's Solar Shakeup Makes Sense

BlackBerry CEO: Stock Price Should Be Higher, We Are Looking at M&A

BlackBerry CEO: Stock Price Should Be Higher, We Are Looking at M&A