This document provides a summary of the history and development of virtualization technology. It discusses early virtualization companies like VMware and Microsoft's entry into the space. It outlines the differences between type 1 and type 2 hypervisors. It also summarizes key virtualization products from Microsoft and VMware over time like Hyper-V, VMware ESX, and Application Virtualization. Finally, it discusses benefits of virtualization like server consolidation and cost savings realized by organizations.