The planned $11.3bn (€8.7bn) buy-out of SunGard, the US software company, should prompt investors to take a close look at other cash-generative IT and business processing outsourcing companies, according to a report by Merrill Lynch analysts.

The sum offered by a consortium of seven private equity firms, including Silver Lake Partners and The Blackstone Group, values SunGard at a 14% premium over its market capitalisation when the deal was announced at the end of last month.