diff --git a/_service b/_service
index 2c1645d..17a92eb 100644
--- a/_service
+++ b/_service
@@ -3,7 +3,7 @@
   <param name="url">https://github.com/rootless-containers/slirp4netns.git</param>
   <param name="scm">git</param>
   <param name="filename">slirp4netns</param>
-  <param name="revision">v1.2.0</param>
+  <param name="revision">v1.2.1</param>
   <param name="versionformat">@PARENT_TAG@</param>
   <param name="versionrewrite-pattern">v(.*)</param>
 </service>
diff --git a/slirp4netns-1.2.0.tar.xz b/slirp4netns-1.2.0.tar.xz
deleted file mode 100644
index cc607bd..0000000
--- a/slirp4netns-1.2.0.tar.xz
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:581e8aef1c2dabe94b1ef7ef6b31762dfa404edc5b4b800e4034e3add670d403
-size 52508
diff --git a/slirp4netns-1.2.1.tar.xz b/slirp4netns-1.2.1.tar.xz
new file mode 100644
index 0000000..9850e7f
--- /dev/null
+++ b/slirp4netns-1.2.1.tar.xz
@@ -0,0 +1,3 @@
+version https://git-lfs.github.com/spec/v1
+oid sha256:91a4c93aab82f02ec6bb5185e75e5f8e1209399a6456e79576c25a28f79519fe
+size 54548
diff --git a/slirp4netns.changes b/slirp4netns.changes
index 383a258..1ddc3fa 100644
--- a/slirp4netns.changes
+++ b/slirp4netns.changes
@@ -1,3 +1,10 @@
+-------------------------------------------------------------------
+Mon Aug 21 06:34:19 UTC 2023 - Danish Prakash <danish.prakash@suse.com>
+
+- Update to version 1.2.1:
+  * sandbox: Add support for escaping resolv.conf symlinks (#318)
+  * parson: update to v1.5.2 (#320)
+
 -------------------------------------------------------------------
 Tue Nov 22 13:00:10 UTC 2022 - Dan Čermák <dcermak@suse.com>
 
diff --git a/slirp4netns.spec b/slirp4netns.spec
index 8658cbd..1ec0ea7 100644
--- a/slirp4netns.spec
+++ b/slirp4netns.spec
@@ -1,7 +1,7 @@
 #
 # spec file for package slirp4netns
 #
-# Copyright (c) 2022 SUSE LLC
+# Copyright (c) 2023 SUSE LLC
 #
 # All modifications and additions to the file contributed by third parties
 # remain the property of their copyright owners, unless otherwise agreed
@@ -17,10 +17,10 @@
 
 
 Name:           slirp4netns
-Version:        1.2.0
+Version:        1.2.1
 Release:        0
 Summary:        User-mode networking for unprivileged network namespaces
-License:        GPL-2.0-only AND MIT AND BSD-2-Clause
+License:        BSD-2-Clause AND GPL-2.0-only AND MIT
 Group:          System/Management
 URL:            https://github.com/rootless-containers/slirp4netns
 Source0:        %{name}-%{version}.tar.xz