diff --git a/pkgs/development/compilers/dev86/default.nix b/pkgs/development/compilers/dev86/default.nix
index f37dae80830..c9d58e433f6 100644
--- a/pkgs/development/compilers/dev86/default.nix
+++ b/pkgs/development/compilers/dev86/default.nix
@@ -1,25 +1,18 @@
 { stdenv, fetchurl }:
 
-stdenv.mkDerivation {
-  name = "dev86-0.16.19";
+stdenv.mkDerivation rec {
+  name = "dev86-${version}";
+  version = "0.16.21";
 
   src = fetchurl {
-    url = http://www.debath.co.uk/dev86/Dev86src-0.16.19.tar.gz;
-    sha256 = "33398b87ca85e2b69e4062cf59f2f7354af46da5edcba036c6f97bae17b8d00e";
+    url = "http://v3.sk/~lkundrak/dev86/Dev86src-${version}.tar.gz";
+    sha256 = "154dyr2ph4n0kwi8yx0n78j128kw29rk9r9f7s2gddzrdl712jr3";
   };
 
   makeFlags = "PREFIX=$(out)";
 
-  # Awful hackery to get dev86 to compile with recent gcc/binutils.
-  # See http://bugs.gentoo.org/214964 for some inconclusive
-  # discussion.
-  preBuild =
-    ''
-      substituteInPlace makefile.in --replace "-O2" "" --replace "-O" ""
-    '';
-
   meta = {
     description = "Linux 8086 development environment";
-    homepage = http://www.debath.co.uk/;
+    homepage = http://v3.sk/~lkundrak/dev86/;
   };
 }