diff --git a/_service b/_service
index 31878c5..556dd9c 100644
--- a/_service
+++ b/_service
@@ -4,7 +4,7 @@
     <param name="versionformat">@PARENT_TAG@</param>
     <param name="url">https://github.com/matrix-org/synapse.git</param>
     <param name="scm">git</param>
-    <param name="revision">v1.49.0</param>
+    <param name="revision">v1.49.2</param>
     <param name="versionrewrite-pattern">v(.*)</param>
     <param name="versionrewrite-replacement">\1</param>
     <!--
diff --git a/matrix-synapse-1.49.0.obscpio b/matrix-synapse-1.49.0.obscpio
deleted file mode 100644
index 4dae77c..0000000
--- a/matrix-synapse-1.49.0.obscpio
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:229545696486d099bc94dbe4e1d3f5e869617701f9b75827348401f8273bff92
-size 31986189
diff --git a/matrix-synapse-1.49.2.obscpio b/matrix-synapse-1.49.2.obscpio
new file mode 100644
index 0000000..0d99873
--- /dev/null
+++ b/matrix-synapse-1.49.2.obscpio
@@ -0,0 +1,3 @@
+version https://git-lfs.github.com/spec/v1
+oid sha256:74df94e6e16214271cd8fec2a6bc6b5eb86089caf91ed29cf70e73ac814d8c55
+size 31988237
diff --git a/matrix-synapse-test.spec b/matrix-synapse-test.spec
index 802d247..45cc8e2 100644
--- a/matrix-synapse-test.spec
+++ b/matrix-synapse-test.spec
@@ -27,7 +27,7 @@
 
 %define         pkgname matrix-synapse
 Name:           %{pkgname}-test
-Version:        1.49.0
+Version:        1.49.2
 Release:        0
 Summary:        Test package for %{pkgname}
 License:        Apache-2.0
diff --git a/matrix-synapse.changes b/matrix-synapse.changes
index 69e3bab..7cc9143 100644
--- a/matrix-synapse.changes
+++ b/matrix-synapse.changes
@@ -1,3 +1,13 @@
+-------------------------------------------------------------------
+Tue Dec 21 18:39:09 UTC 2021 - Marcus Rueckert <mrueckert@suse.de>
+
+- Update to 1.49.2
+  - Bugfixes
+    - Fix a performance regression in /sync handling, introduced in
+      1.49.0. (#11583)
+  - Internal Changes
+    - Work around a build problem on Debian Buster. (#11625)
+
 -------------------------------------------------------------------
 Tue Dec 14 14:29:19 UTC 2021 - Marcus Rueckert <mrueckert@suse.de>
 
diff --git a/matrix-synapse.obsinfo b/matrix-synapse.obsinfo
index 3bd08cb..3190e82 100644
--- a/matrix-synapse.obsinfo
+++ b/matrix-synapse.obsinfo
@@ -1,5 +1,5 @@
 name: matrix-synapse
-version: 1.49.0
-mtime: 1639486846
-commit: 92906e1b603ec7186775d9b1d20207862098d5d4
+version: 1.49.2
+mtime: 1640108494
+commit: 6b6dcdc338a3fcfa1da6c3e2a38f62c268df1cbc
 
diff --git a/matrix-synapse.spec b/matrix-synapse.spec
index fe60bc9..83a2134 100644
--- a/matrix-synapse.spec
+++ b/matrix-synapse.spec
@@ -47,7 +47,7 @@
 %define         pkgname matrix-synapse
 %define         eggname matrix_synapse
 Name:           %{pkgname}
-Version:        1.49.0
+Version:        1.49.2
 Release:        0
 Summary:        Matrix protocol reference homeserver
 License:        Apache-2.0
@@ -100,7 +100,7 @@ BuildRequires:  %{use_python}-canonicaljson >= 1.4.0
 %requires_eq    %{use_python}-canonicaljson
 BuildRequires:  %{use_python}-cryptography
 %requires_eq    %{use_python}-cryptography
-BuildRequires:  %{use_python}-frozendict >= 1
+BuildRequires:  (%{use_python}-frozendict >= 1 with %{use_python}-frozendict < 2.1.2)
 %requires_eq    %{use_python}-frozendict
 BuildRequires:  %{use_python}-idna >= 2.5
 %requires_eq    %{use_python}-idna