E-Host Europe, Ireland's first application service provider (ASP), was launched earlier this week. ASPs allow clients to rent software applications from a remote data centre which means organisations no longer have to buy or own their computing.

E-Host's chief executive, Mr Robbie O'Brien, said: "Currently if a business wants to upgrade its software applications, it could take up to 30 days. By going with an ASP model, software can be upgraded in 30 minutes with a 30 per cent saving."

The company plans to grow its business through acquisition, having identified three possible opportunities in the UK and Benelux countries.