I have no inside knowledge on this topic, but Microsoft has publically stated 
that as long as there is a market for on-premises Exchange, they will continue 
to deliver it.

For large companies Office 365 is more expensive than on-premises solutions. I 
haven't figured the break-even point recently, but the last time I looked it 
was about 20 months for 2000 users.

But the real kicker is that not many features are going into on-premises 
software like Exchange and Office. It's not "cloud first" anymore (if it ever 
truly was), it's "cloud only".

From: listsad...@lists.myitforum.com [mailto:listsad...@lists.myitforum.com] On 
Behalf Of Katherine M. Moss
Sent: Friday, July 14, 2017 9:30 AM
To: exchange@lists.myitforum.com
Subject: RE: [Exchange] Description of the security update for Microsoft 
Exchange: July 11, 2017

Interesting ... you wonder though just how much this is going to matter by 
2020; if Microsoft decides to go through with their threat of making Office 
useless but as a means to a subscription service ... a.k.a. Office 365 will be 
all that's left ... Updates won't matter then.

From: listsad...@lists.myitforum.com<mailto:listsad...@lists.myitforum.com> 
[mailto:listsad...@lists.myitforum.com] On Behalf Of Michael B. Smith
Sent: Friday, July 14, 2017 9:06 AM
To: exchange@lists.myitforum.com<mailto:exchange@lists.myitforum.com>
Subject: [Exchange] Description of the security update for Microsoft Exchange: 
July 11, 2017

https://support.microsoft.com/en-us/help/4018588/description-of-the-security-update-for-microsoft-exchange-july-11-2017

Two XSS vulnerabilities and a redirect vulnerability.

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