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Microsoft today shut down talk that it would soon stop shipping new versions of its Exchange Server, promising it would continue to develop and release the popular email software for on-premise use

From Network World:
In a post to the Exchange team's blog, Perry Clarke, who heads development, tried to put those fears to rest. "Microsoft has no plans to stop delivering on-premises releases of Exchange," Clarke wrote.

Clarke also said that customers could expect an Exchange release cadence of two to three years going forward, and that engineers are, in fact, working on the next iteration.
  Microsoft: No, were not ditching on-premise Exchange