Out of curiosity, why didn't IBM ever release office suite? They had such a strong hold on enterprise market and yet all they did was to buy lotus notes that too in mid nineties (quite late).
Word was actually first (in 1983). Excel came in on the Mac (!) first in 1985 and then Windows in 1987. The had a spreadsheet (MultiPlan) which arrived before that on DOS but it was rubbish and didn't make a dent in 1-2-3.
Microsoft had a very complicated history in the 1980s and 1990s.
(Incidentally, IBM does now have an office suite. A quite nice version of OpenOffice: http://www-03.ibm.com/software/lotus/symphony/home.nsf/home)
The office suite concept was still a hard sell in the late 1980s and early 1990s; most were seen as a mediocre collection with a star product. Before Windows, people were much less concerned about a common UI and more interested in getting the best-of-breed (or at least the market favorite) in each category. So that led to Lotus 1-2-3 for spreadsheet, Wordperfect for word processing, Harvard Business for presentations, and DBase for databases. None of those came from the same company!
IBM had products in several of these categories but they were not market leaders. By the time IBM got serious about an office suite, there were already three strong options available (Microsoft, Borland/Lotus, and WordPerfect). Then Windows 95/Office 95 hit and it was all over.