Yes, its true, its out right now and there's both freemium and paid versions available. Office work may never be the same again.
You might think that this is a strange move from Microsoft considering that they have had it out exclusively on their Surface tablet, however, considering that the iPad is the most popular tablet for businesses it makes sense to offer their existing customer base who use it in the office via desktop. It makes sense to give them this option and will be welcomed by many.
As mentioned its out today and its free but there is a catch to that. You can download it right now and get the ability to open Word, Excel and Powerpoint documents which is great if you are doing a presentation only. If you want to use it properly as in write documents, create and edit spreadsheets or create killer presentations then you will need to subscribe to Office 365. Subscription rates vary so you’ll need to check which one is for you.
Meanwhile check out the video below and see it in action yourself.