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Dual Managed Package version in same sandbox with same organization id

in Configure Price Quote

We would like to upgrade to latest version of CPQ managed package from v7.2

Can we continue to use v7.2 for 2 businesses and do migration of data of 1 business to the new objects of v8.8 ?

If yes, how should the integration setup in integration center be or should the different connectors be handled in xslt?

Appreciate answers to the above.

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