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Hyper-V Licensing with Server2012/2008 R2 VMs

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Hello Experts

I have a physical server with Windows Server 2012 R2 Datacenter installed. Now if I install Server 2012 R2 based guest VMs do I have to buy and activate license for them individually or the VMs will be automatically licensed free with AVMA I have an SPLA license with me. Also what will be the case If I make Server 2008 R2 based VMs.

Thanks



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