Microsoft announced the Office 365 Public Beta that combines the Microsoft Office Professional Plus client suite with cloud versions of the following products and services: Microsoft Exchange Online, Microsoft SharePoint Online, and Microsoft Lync Online.
Office Professional Plus subscription allows you to purchase monthly licenses for each user in your organization, and each user license allows five concurrent installations. Both 32- and 64-bit versions of Office Professional Plus are available in Office 365.
However, it’s recommend that you install the 32-bit version. You download and manage Office Professional Plus for Office 365 from the Office 365 portal. After downloading Office Professional Plus for Office 365, you can make the Office suite available to users in your organization, based on the number of user licenses that you sign up for. For information about deployment considerations for Office 2010 64-bit, see 64-bit editions of Office 2010.
Office Professional Plus for Office 365 includes all the same applications that are available in the Microsoft Office Professional Plus 2010 client suite:
Microsoft SharePoint Workspace
[Source: Office IT Pro blog]