Oracle Corp 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 , Inc and Google Inc in offering cloud computing services to its customers.

Two company officials declined to describe the new offerings.

(Reporting by Jim Finkle; Editing by Phil Berlowitz)