Office 2016 is a version of Microsoft Office, released on 2015-09-22. New features include saving files directly in the cloud, Insights, etc. A version for Mac was released later, on 2016-07-09. Office 2016 cannot coexist with Office 2013.
As with earlier versions, an MSI version, as well as a C2R (Click-to-Run) version, are available. The MSI version is only available via volume licensing.