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When importing a management pack, you can update an existing management pack or replace it with the new version:
Replacing a management pack completely removes the previous version of that management pack from your management server, overwriting it with the new version. Replacing a management pack is suggested only when you do not need to retain any previously created company knowledge or custom rules.
The Update option retains any information added to the company knowledge base, if you enabled or disabled any rules, and any custom rules added to the management pack. Any other changes (including modified rules, scripts, data providers, or computer groups) are overwritten.