To help its mobile application bona fides, Oracle could take a look at PaaS (platform-as-a-service) vendors such as Joyent or Engine Yard, according to Wang.

For social applications, Oracle has a wide variety of choices, among them oft-rumored acquisition candidate Jive Software.

Expect Oracle to focus on verticals as well, Wang said.

One certain focus will be health care, and not just for electronic medical records, Wang said. Oracle could target areas such as nurse recruiting and adverse event reporting for pharmaceuticals with analytic applications it builds on top of its core BI (business intelligence) stack, he said.

Oracle may not have just software on its mind, given the company's increasing emphasis on hardware.