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gnome-boxes

GNOME Boxes landed in Ubuntu 12.10's Ubuntu Software Center (no PPA required)

GNOME Boxes is a desktop client that allows user to create, view and use virtual machines, remote physical machines and remote virtual machines via a simplistic, easy-to-use interface.

GNOME Boxes 3.4.2 introduces important configuration options, like the ability to adjust (increase and decrease) the used RAM and storage, from where users can optimize their performance on the about-to-be-installed virtual OS under Boxes-->System