The use of Office 365 and Exchange Online is supported as part of the Sage CRM Exchange integration. However, it may not be clear from documentation which plans available for Exchange Online are supported with the integration.
Almost all Exchange Online plans are supported for use with the Exchange integration. The main components used by the integration are RBAC and the Exchange Web Services API. A full list of what components are avilable in the various plans is available here:
An exception to this general case is Exchange Online Kiosk. This lightweight version of Exchange Online is lacking in functionality which is required for the Exchange integration to function.