Oracle Corp (ORCL.O) is preparing to expand its offerings in cloud computing, one of the fastest-growing areas of the technology sector, the company said on Wednesday ahead of a speech by Chief Executive Larry Ellison.

The company released a short statement saying that Executive Vice President Thomas Kurian would provide a technical deep dive on the offerings to media and analysts following Ellison's speech to customers at the technology giant's annual users conference.

Oracle, which offers a wide variety of software and hardware used in corporate data centers, has lagged behind rivals including Inc (CRM.N), Inc (AMZN.O) and Google Inc (GOOG.O) in offering cloud computing services to its customers.

Two company officials declined to describe the new offerings.