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From Microsoft:The requirement for Office web Server was introduced in Lync Server 2013 to support the use of PowerPoint presentations in Lync Online Meetings. Without Office Web App Server (Formerly known as Office Web App companion server – WAC) users using Lync 2013 Client connected to Lync 2013 Servers won’t be able to do PowerPoint sharing. Step 2: Install Office Web Apps Server and related updates. Complete these steps on any servers that will run Office Web Apps Server. Download Office Web Apps Server from the Volume Licensing Service Center (VLSC). To download Office Web Apps Server you must have a license, under a Volume Licensing agreement, for Office Professional Plus 2013. In this article, let us see how to install and configure Office Web Apps for SharePoint 2013. Office Web Apps Server – It is used to open the Office Applications, which is stored inside the SharePoint Server on the Browser itself. I.e., within an iFrame on a Layouts Page.
When you store your Word, Excel, PowerPoint, and OneNote files online, Office Web Apps enable you to make updates from virtually any computer with an Internet connection. Office Web Apps make it easy to work together with everyone on your team, regardless of what version of Microsoft Office they use and whether they work on a PC or a Mac. Office Web Apps provide high-fidelity viewing of your document so your content looks its best. From images and footnotes, to table borders and text effects, viewers see the file with great document fidelity and consistent formatting. You don't have to spend time learning new programs. Office Web Apps have a familiar Office interface and include some of the same tools you already use today. And, when you need to access additional features, it takes just one click to open the file in the corresponding Microsoft Office program on your desktop.
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From Microsoft:Install Office Web Apps Windows Server 2016
When you store your Word, Excel, PowerPoint, and OneNote files online, Office Web Apps enable you to make updates from virtually any computer with an Internet connection. Office Web Apps make it easy to work together with everyone on your team, regardless of what version of Microsoft Office they use and whether they work on a PC or a Mac. Office Web Apps provide high-fidelity viewing of your document so your content looks its best. From images and footnotes, to table borders and text effects, viewers see the file with great document fidelity and consistent formatting. You don't have to spend time learning new programs. Office Web Apps have a familiar Office interface and include some of the same tools you already use today. And, when you need to access additional features, it takes just one click to open the file in the corresponding Microsoft Office program on your desktop.