"The testing nonprofit ETS is looking to sell or find strategic investors for two of its key exams, the GRE and TOEFL. The GRE, once required for admission to most graduate programs, has seen a steep decline in takers, as many institutions have made the test optional-a trend accelerated by the Covid-19 pandemic. In 2020-2021, more than 350,000 people took the GRE; in 2024-25, that number fell to 200,000, according to the Journal."
"The TOEFL, which assesses the English-language proficiency of international students, has faced mounting competition from companies including Duolingo, the Journal reported. The Trump administration's crackdown on visas and efforts to cap international student enrollments in the U.S. have further shrunk the pool of test takers. Sources told the Journal that ETS is hoping to sell the tests for about $500 million and has fielded interest from the Singapore-based investment firm Hillhouse, private-equity firms Nexus Capital and Veritas Capital, and education entrepeneur Martin Basiri, among others."
ETS is looking to sell or find strategic investors for two of its key exams, the GRE and TOEFL. The GRE has seen a steep decline in test takers as many institutions made the exam optional, a trend accelerated by the Covid-19 pandemic; takers fell from more than 350,000 in 2020–2021 to about 200,000 in 2024–25. The TOEFL faces mounting competition from companies including Duolingo, and U.S. visa crackdowns and caps on international student enrollments have further reduced its pool of examinees. ETS is seeking roughly $500 million and has attracted interest from Hillhouse, Nexus Capital, Veritas Capital, and Martin Basiri.
Read at Inside Higher Ed | Higher Education News, Events and Jobs
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