An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality level or keeping the software up-to-date.
For example, an ISP that hosts a website typically offers managed services. If the Web server goes down, the ISP would be responsible for restoring it. In contrast, a colocation agreement with an ISP would house the Web servers, but the ISP would not be responsible for its maintenance and repair. See MSP
, managed solution
and Web hosting