TouchDown will sync an Android device with a Microsoft Exchange server.  This means it only syncs with an Exchange server and does NOT sync with a standalone version of Outlook.  The following is from the product website: 

TouchDown Features

The following is a subset of features that TouchDown™ supports

Widgets Y
SSL Support Y
PIN Enforcement Y
Remote Data Wipe Y
Email-initiated Data Wipe Y
SMS confirm on Wipe Y
Manual and Scheduled Sync Y
Data Encryption at rest Y
Encrypt Attachments on SD card Y
Push Mail Y
HTML Email Y
Download Attachments Y
Smart Forward/Reply Y
Multi-Select Y
Search (Device-Local) Y
Server Search Y
Email Folders Y
Move to Folder Y
Notification Y
Meeting Responses Y
Out Of Office (Exchange 2007) Y
Custom HTML Signatures Y
Custom Notifications Y
Push udpates Y
Contact Photos Y
Edit/Update/Delete Y
Export to PhoneBook Y
Auto Update PhoneBook Y
Quick Search Y
Email/SMS/Call from contact Y
GAL Search & import Y
Push updates Y
Edit Appointments Y
Delete Appointments Y
Reminders Y
Create From Email Y
Auto Snooze Y
Day/Week/Month Views Y
Tasks List
Filter and Sort Y
Mark Complete Y
Push Updates Y
View/Edit/Create Tasks Y
Create From Email Y


A recent update to TouchDown is the ability to sync Notes if you are accessing an Exchange 2010 server.  If you are interested in more information about TouchDown, visit their website at the link below: