I recently installed the Bluestacks Android emulator. I happened to look at the process running under ProcessExplorer and was surprised to see that it is a .NET application.

The HD-Frontend.exe is the Bluestacks UI process and is highlighted yellow because it has loaded the .NET framework. There are a number of other processes associated with Bluestacks and most are also .NET.
Opening the EXE in Reflector.NET also shows that it is .NET.

I thought Android was Java-based. What's going on here?