Microsoft Application Virtualization transforms applications into virtualized, network-available services resulting in dynamic delivery of software that is never installed, minimizes conflicts and reduces costly application compatibility testing. Users and their application environments are no longer machine-specific, and the machines themselves are no longer user-specific, enabling IT to be flexible and responsive to business needs, and significantly reducing the cost of PC management, including application and operating system (OS) migrations.
Formerly known as SoftGrid Application Virtualization, this is the first Microsoft-branded release of the product. It includes new capabilities designed to help IT support large-scale virtualization implementations across more sites and enable multiple delivery options; Globalization that lets users work in localized environments with localized applications; Dynamic Suite Composition which allows administrator-controlled virtual application combinations; and compliance with Microsoft’s Trustworthy Computing and Secure by Default initiatives. This release also adds support for Windows Server 2008 32-bit Terminal Services (Microsoft Application Virtualization for Terminal Services only).
Microsoft Application Virtualization is an integral tool in the Microsoft Desktop Optimization Pack for Software Assurance solution, a dynamic desktop solution available to Software Assurance customers that helps reduce application deployment costs, enable delivery of applications as services, and better manage and control enterprise desktop environments.
You can download the public beta 1 of Microsoft Application Virtualisation 4.5 through Microsoft Connect.
Source : Microsoft Connect website