German tabloid Bild is reporting that Crystal Cruises has bought the MS Deutschland for roughly $50 million.
The report could not be immediately confirmed by Cruise Industry News.
The ship has operated for Peter Deilmann Cruises in the German luxury segment until recent financial problems left the operating company insolvent.
The vessel was built in 1998 and is designed in an art deco style, with capacity for 514 passengers and tonnage listed at 22,400.
The ship could give Crystal a foothold in the German market with its loyal passenger following and a crew ready to go. It also may give Crystal additional capacity to introduce an expedition product.
Following what is believed to be a required class drydocking, the ship could resume previously published and sold itineraries relatively soon.
Since taking over Crystal Cruises in 2013, President Edie Rodriguez has made it no secret she intends to expand the brand with new tonnage.