SAP has invested several million dollars in Smart Technologies as part of an $11 million venture capital infusion that the firm, which sells Web-based customer service and sales software, received last week. The two companies plans to integrate their products more closely as a result of the deal, but Jeff DeCoux, Smart's chief executive, denied it was a precursor to takeover by the applications giant. The cash injection will be the third round of equity financing for Smart, and it hopes, the last before it goes public. It will use the money for product development and to boost sales staff.
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