Microsoft introduces Office 365 software that's 'cloud'-based

Microsoft unveiled a new Internet-based version of its popular Office software Tuesday in an effort to lash out at rivals like Google.

The debut marked a big leap for the software maker into the world of "cloud" computing, which aims to let users access files and use applications anywhere they can use the Internet.

The new version

The new version, available in 40 markets, will bring applications like Outlook email and Excel spreadsheets online, which Ballmer stressed would help save businesses money.

Google charges businesses $50 a user each year for its Apps product which offers web-based email, calendars, word processing and other features.

Office 365 will cost anywhere between $2 and $24 a month per user, with offerings ranging from basic email to a more robust group of features that includes social networking and videoconferencing.

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