diff --git a/NEWS b/NEWS
index bec50f34d..7816ea58e 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,11 @@
+Overview of changes leading to 2.7.1
+Thursday, Aug 13, 2020
+====================================
+- ot-funcs now handles variable empty glyphs better when hvar/vvar isn't present.
+- Reverted a GDEF processing regression.
+- A couple of fixes to handle OOM better.
+
+
 Overview of changes leading to 2.7.0
 Saturday, July 25, 2020
 ====================================
diff --git a/configure.ac b/configure.ac
index 1f94273bf..53eb80f2a 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,6 +1,6 @@
 AC_PREREQ([2.64])
 AC_INIT([HarfBuzz],
-        [2.7.0],
+        [2.7.1],
         [https://github.com/harfbuzz/harfbuzz/issues/new],
         [harfbuzz],
         [http://harfbuzz.org/])
diff --git a/meson.build b/meson.build
index 7c6e2f754..2c477737b 100644
--- a/meson.build
+++ b/meson.build
@@ -1,6 +1,6 @@
 project('harfbuzz', 'c', 'cpp',
   meson_version: '>= 0.47.0',
-  version: '2.7.0',
+  version: '2.7.1',
   default_options: [
     'cpp_eh=none',          # Just to support msvc, we are passing -fno-rtti also anyway
     'cpp_rtti=false',       # Just to support msvc, we are passing -fno-exceptions also anyway
diff --git a/src/hb-version.h b/src/hb-version.h
index 808483971..923ccc2d1 100644
--- a/src/hb-version.h
+++ b/src/hb-version.h
@@ -38,9 +38,9 @@ HB_BEGIN_DECLS
 
 #define HB_VERSION_MAJOR 2
 #define HB_VERSION_MINOR 7
-#define HB_VERSION_MICRO 0
+#define HB_VERSION_MICRO 1
 
-#define HB_VERSION_STRING "2.7.0"
+#define HB_VERSION_STRING "2.7.1"
 
 #define HB_VERSION_ATLEAST(major,minor,micro) \
 	((major)*10000+(minor)*100+(micro) <= \