Converting a file to Google Docs, Sheets, or Slides allows you to edit, collaborate on, and share the file online. When you convert a file, the original file will remain intact and accessible from Google Drive. A copy of the file in a Google format appears in My Drive in Google Drive on the web.
Google said that :
We’ve been listening to your feedback, and we’re happy to say that we now offer support for importing all three major ODF (Open) file formats: .odt files for documents, .ods for spreadsheets, and .odp for presentations.
Not only that, but we’re wrapping up the year with a few more Office-friendly improvements: we support more complex SmartArt from older Powerpoint presentations, and last week’s updates are also now import/export friendly, with support for merged cells in Word and slide numbers in Powerpoint.