diff --git a/.gitignore b/.gitignore
index 6f3954a..94ab9bd 100644
--- a/.gitignore
+++ b/.gitignore
@@ -12,3 +12,4 @@ fonttools-2.3.tar.gz
 /fonttools-3.2.3.zip
 /fonttools-3.3.0.zip
 /fonttools-3.3.1.zip
+/fonttools-3.4.0.zip
diff --git a/fonttools.spec b/fonttools.spec
index 2a60e13..45a1026 100644
--- a/fonttools.spec
+++ b/fonttools.spec
@@ -7,7 +7,7 @@ contains a tool called “TTX” which converts TrueType/OpenType fonts to and \
 from an XML-based format.
 
 Name:           fonttools
-Version:        3.3.1
+Version:        3.4.0
 Release:        1%{?dist}
 Summary:        Tools to manipulate font files
 License:        BSD
@@ -80,6 +80,9 @@ sed -i '1d' Lib/fontTools/mtiLib/__init__.py
 %{python3_sitelib}/%{name}-%{version}-py3.?.egg-info
 
 %changelog
+* Thu Dec 22 2016 Parag Nemade <pnemade AT redhat DOT com> - 3.4.0-1
+- Update to 3.4.0 version
+
 * Tue Dec 20 2016 Parag Nemade <pnemade AT redhat DOT com> - 3.3.1-1
 - Update to version 3.3.1
 
diff --git a/sources b/sources
index 6f62694..9c16286 100644
--- a/sources
+++ b/sources
@@ -1 +1 @@
-SHA512 (fonttools-3.3.1.zip) = 5c0cf4ddf0796d4d2eb15c51c6364ddfff7ce11d1f21d49302949e4f4af15d6d765aa487633ac80de82807eee694119de53fb8bf7a271e12313442910665407f
+SHA512 (fonttools-3.4.0.zip) = ac95f01b2b2e193308b0d8e3afb59db826a948729b4fe72542f9a504b372cffb17b10294c56f586292ed415cbfc13c61ca96b97bd459854250572223285c6c45