Just to give a little background on virtualisation, as this was a technology which emerged in the 1960's, and then went into hibernation before re-emerging again in 2000.
Virtualisation was first implemented more than 30 years ago by IBM as a way to logically partition mainframe computers into separate virtual machines. These partitions allowed mainframes to “multitask”: run multiple applications and processes at the same time. Since mainframes were expensive resources at the time, they were designed for partitioning as a way to fully leverage the investment.
A great timeline is on wapedia which describes the different times in the history for virtualisation
http://wapedia.mobi/en/Timeline_of_virtualization_development
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