New System Center 2012 R2 Licensing Guide from Microsoft. Three key takeaways: nothing has changed from System Center 2012 licensing (hurrah! but it IS good to have an up-to-date guide), you will need SA on your 2012 licences to move to 2012 R2 (as we’ve come to expect), Azure is called out for public cloud licensing (confirmation that each Azure instance is considered to be one virtual OSE): http://bit.ly/17GwiSB