bhyve (pronounced "bee hive") is a type-2 hypervisor written for FreeBSD and included in the operating system since FreeBSD 10.0. It lets a FreeBSD host run virtual machines with guests such as FreeBSD, OpenBSD, NetBSD, Linux, illumos-based systems and Windows, with support for UEFI and VirtIO devices. Ports exist for illumos distributions such as SmartOS, OpenIndiana and OmniOS. It is not a hosted service but software that organisations run on their own servers.
bhyve is developed by the FreeBSD Project and released under the FreeBSD licence, a permissive open-source licence. The FreeBSD Foundation, a US-based non-profit, acts as the project's legal entity and funds development. No vendor operates bhyve for you, so the location of workloads and data depends entirely on where you run the servers. A European organisation can use it in its own data centres or at a European hosting provider, with inspectable source code and no commercial supplier relationship.