diff --git a/.gitignore b/.gitignore
index 931300d..6d59e5b 100644
--- a/.gitignore
+++ b/.gitignore
@@ -67,3 +67,6 @@ ft2demos-2.4.2.tar.bz2
 /freetype-2.7.tar.bz2
 /freetype-doc-2.7.tar.bz2
 /ft2demos-2.7.tar.bz2
+/freetype-2.7.1.tar.bz2
+/freetype-doc-2.7.1.tar.bz2
+/ft2demos-2.7.1.tar.bz2
diff --git a/freetype-2.7-valgrind.patch b/freetype-2.7-valgrind.patch
deleted file mode 100644
index e677f50..0000000
--- a/freetype-2.7-valgrind.patch
+++ /dev/null
@@ -1,65 +0,0 @@
-From 6ca54c643094800c1915dd856b9ea36276fe1e97 Mon Sep 17 00:00:00 2001
-From: Alexei Podtelezhnikov <apodtele@gmail.com>
-Date: Sun, 11 Sep 2016 16:00:52 -0400
-Subject: [PATCH] [smooth] Fix valgrind warning and reoptimize.
-
-The algorithm calls `gray_set_cell' at the start of each new contour
-or when the contours cross the cell boundaries. Double-checking for
-that is wasteful.
-
-* src/smooth/ftgrays.c (gray_set_cell): Remove check for a new cell.
-(gray_convert_glyph): Remove initialization introduced by 44b172e88.
----
- ChangeLog            | 11 +++++++++++
- src/smooth/ftgrays.c | 21 +++++++++------------
- 2 files changed, 20 insertions(+), 12 deletions(-)
-
-diff --git a/src/smooth/ftgrays.c b/src/smooth/ftgrays.c
-index 59fafdb..8f85ec2 100644
---- a/src/smooth/ftgrays.c
-+++ b/src/smooth/ftgrays.c
-@@ -577,24 +577,21 @@ typedef ptrdiff_t  FT_PtrDist;
- 
-     /* All cells that are on the left of the clipping region go to the */
-     /* min_ex - 1 horizontal position.                                 */
-+
-     if ( ex > ras.max_ex )
-       ex = ras.max_ex;
- 
-     if ( ex < ras.min_ex )
-       ex = ras.min_ex - 1;
- 
--    /* are we moving to a different cell ? */
--    if ( ex != ras.ex || ey != ras.ey )
--    {
--      /* record the current one if it is valid */
--      if ( !ras.invalid )
--        gray_record_cell( RAS_VAR );
-+    /* record the current one if it is valid */
-+    if ( !ras.invalid )
-+      gray_record_cell( RAS_VAR );
- 
--      ras.area  = 0;
--      ras.cover = 0;
--      ras.ex    = ex;
--      ras.ey    = ey;
--    }
-+    ras.area  = 0;
-+    ras.cover = 0;
-+    ras.ex    = ex;
-+    ras.ey    = ey;
- 
-     ras.invalid = ( ey >= ras.max_ey || ey < ras.min_ey ||
-                     ex >= ras.max_ex );
-@@ -1820,7 +1817,7 @@ typedef ptrdiff_t  FT_PtrDist;
-         ras.num_cells = 0;
-         ras.invalid   = 1;
-         ras.min_ey    = band[1];
--        ras.max_ey    = ras.ey = band[0];
-+        ras.max_ey    = band[0];
- 
-         error = gray_convert_glyph_inner( RAS_VAR );
- 
--- 
-2.9.3
-
diff --git a/freetype.spec b/freetype.spec
index a615a71..fcf4449 100644
--- a/freetype.spec
+++ b/freetype.spec
@@ -6,8 +6,8 @@
 
 Summary: A free and portable font rendering engine
 Name: freetype
-Version: 2.7
-Release: 2%{?dist}
+Version: 2.7.1
+Release: 1%{?dist}
 License: (FTL or GPLv2+) and BSD and MIT and Public Domain and zlib with acknowledgement
 Group: System Environment/Libraries
 URL: http://www.freetype.org
@@ -31,8 +31,6 @@ Patch92:  freetype-2.5.3-freetype-config-prefix.patch
 
 Patch93:  freetype-2.6.5-libtool.patch
 
-Patch94:  freetype-2.7-valgrind.patch
-
 BuildRequires: libX11-devel
 BuildRequires: libpng-devel
 BuildRequires: zlib-devel
@@ -96,8 +94,6 @@ popd
 
 %patch93 -p1 -b .libtool
 
-%patch94 -p1 -b .valgrind
-
 %build
 
 %configure --disable-static \
@@ -212,6 +208,10 @@ rm -f $RPM_BUILD_ROOT%{_libdir}/*.{a,la}
 %{_mandir}/man1/*
 
 %changelog
+* Tue Jan  3 2017 Marek Kasik <mkasik@redhat.com> - 2.7.1-1
+- Update to 2.7.1
+- Resolves: #1409271
+
 * Mon Nov 21 2016 Marek Kasik <mkasik@redhat.com> - 2.7-2
 - Fix a valgrind warning
 - Resolves: #1395915
diff --git a/sources b/sources
index 24fa2f5..8d1b2e1 100644
--- a/sources
+++ b/sources
@@ -1,3 +1,3 @@
-be4601619827b7935e1d861745923a68  freetype-2.7.tar.bz2
-900a4958ff84f0cd574b35d9fe05c53f  freetype-doc-2.7.tar.bz2
-91f087a9626591de103924a3145368f5  ft2demos-2.7.tar.bz2
+SHA512 (freetype-2.7.1.tar.bz2) = df39e2ef55f9090a66fecb6b5e9a5d296a043ddfd919d0ce3d7ea5132aa388bfbbeeaa6d6df6513956134b987e1c3a5eac6975c0c9631213af77457a623b49da
+SHA512 (freetype-doc-2.7.1.tar.bz2) = acccc0cdacf277abb967aee3a09850f10aafe7719d01fc179fc660e8f3d596203d9a0ae74785e5c7e7ad744032d2209a547607edc43c8fde9d136de00cd59ff6
+SHA512 (ft2demos-2.7.1.tar.bz2) = d3c5d81f302629c50b82696db0a83f17e3940fe38ecfddf5c56f63ff3f136f248b0458fe75337823cc080852f48a7326f4e5599240042ba1cb8984e05edd9823