http://en.wikipedia.org/wiki/QuickTransit
This technology was also licensed by Apple Computer in its transition from PowerPC to Intel (x86) CPUs, starting in 2006.[1] Apple marketed this technology as "Rosetta".
This story also explains what IBM is doing with it (running x86 on POWER - LOL).
It's also unclear to what extent Apple would have optimized Transitive's code. Apple could certainly have worked with Transitive to provide para-virtualized assists in Apple's code to improve performance, but it's not that common for the core source code to be shared with the licensee.