Cloning old server to a new server with virtualization

Hi all,

I am new to virtualization and would like to know more on virtualization.
I have two old Linux servers (Master and Slave server) on Fedora Core 4 running for more than ten years. Two servers run with Linux HA for web server, ftp server and a customized JAVA app. A MySQL dual master replication server is installed as well. There are no more spare hardware for the old serer in the market. I have no choice to upgrade to the new server.

Now I wanna clone the old FC4 master and slave servers to two new servers on Ubuntu 18.04 with virtualization setup. Can virtualization on the new servers do that? What is the best way to do the clone, and how? It is because two old servers are LIVE. And we can't stop them.

Thanks,
Wilson