troubleshooting Question

Is Exchange Server needed for Office 365

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jskfanFlag for Cyprus asked on
ExchangeMicrosoft 365
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Is Exchange Server needed for Office 365

If I understand Office 365 is just like regular MS Office but it is in the cloud.
in this case do companies need to invest in hardware and software to install Exchange server on premises in order to have their users able to use Office 365. ?

Thank you
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