Sources familiar with the matter told Bloomberg of the effort at the Arlington, Va., company.
Rosetta Stone is working with financial advisers to gauge interest from private equity and other strategic buyers. The company has not decided which avenue to take however, according to those sources.
There is a chance the company opts to remain independent.
Rosetta Stone shares at last check jumped 25% to $19.94.
Within its earnings report in May, the company said that almost 10,000 new "Learn from Home" licenses were activated through upgrades or new relationships as a result of the coronavirus pandemic.
Even with the uptick in usage as students are forced to learn from home due to coronavirus pandemic restrictions, Rosetta Stone at the time said that the North American K-12 English digital learning market is still untapped and primed for "digital disruption."
The company said that it expected to generate revenue between $186 million to $194 million this year, compared with $182.7 million in 2019.
That forecast is lower than the one it gave in March when Rosetta Stone said that it was expecting revenue between $189 million and $195 million.
In January, the Houston activist hedge-fund manager Voss Capital disclosed a position in Rosetta Stone and said that it planned to talk to the board and management about making changes, including a potential sale of some of the business or the entire company.