Educational Testing Service is exploring a sale or strategic investments for the GRE and TOEFL, the nonprofit’s board told reporters. The GRE has seen taker declines as many graduate programs moved test‑optional; TOEFL faces competition from Duolingo and a smaller pool of international applicants amid tighter U.S. visa policies. Sources told the Wall Street Journal ETS is targeting roughly $500 million and has engaged private‑equity and strategic buyers. Higher‑education admissions offices and test preparation providers are watching closely: a sale could reshape pricing, test delivery and licensing arrangements for graduate and international‑student admissions.