VirtualBox allows you to run one or more 'virtual' computers within another. These virtual computers look and behave as though they were completely separate computers.
VirtualBox was first developed by Sun; when Oracle bought Sun they got VirtualBox as well. Fortunately, unless you are running hundreds of servers, Oracle has provided VirtualBox free of charge. You can review the licensing agreement here.
I've been using VirtualBox for a number of years. I originally got Parallels with my Mac to run Windows; within a year I switched to VirtualBox and haven't looked back. I primarily run VirtualBox on my Mac to provide other environments as required, but I have also tried running it under OpenSuSE linux as well (though not at the moment).
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