OpenVZ is an Operating System-level server virtualization solution, built on Linux. OpenVZ creates isolated, secured containers (otherwise known as virtual private servers, or VPSs) on a single physical server, enabling better server utilization and ensuring that applications do not conflict. Each containers performs and executes exactly like a stand-alone server; containers can be rebooted independently and have root access, users, IP addresses, memory, processes, files, applications, system libraries and configuration files.
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This project provides stable and development versions of OpenVZ kernel and tools through two sub-projects, respectively, Virtualization:OpenVZ:STABLE and Virtualization:OpenVZ:HEAD.
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http://openvz.org