diff --git a/pkgs/tools/misc/time/default.nix b/pkgs/tools/misc/time/default.nix
index 911f0ff50bf..cce7614b904 100644
--- a/pkgs/tools/misc/time/default.nix
+++ b/pkgs/tools/misc/time/default.nix
@@ -1,15 +1,14 @@
 {stdenv, fetchurl}:
 
-stdenv.mkDerivation {
-  name = "time-1.7";
+stdenv.mkDerivation rec {
+  name = "time-${version}";
+  version = "1.8";
 
   src = fetchurl {
-    url = mirror://gnu/time/time-1.7.tar.gz;
-    sha256 = "0va9063fcn7xykv658v2s9gilj2fq4rcdxx2mn2mmy1v4ndafzp3";
+    url = "mirror://gnu/time/${name}.tar.gz";
+    sha256 = "06rfg8dn0q2r8pdq8i6brrs6rqrsgvkwbbl4kfx3a6lnal0m8bwa";
   };
 
-  patches = [ ./max-resident.patch ];
-
   meta = {
     description = "Tool that runs programs and summarizes the system resources they use";
 
@@ -27,7 +26,7 @@ stdenv.mkDerivation {
       `time' reports unavailable information as zero values.
     '';
 
-    license = stdenv.lib.licenses.gpl2Plus;
+    license = stdenv.lib.licenses.gpl3Plus;
     homepage = http://www.gnu.org/software/time/;
     platforms = stdenv.lib.platforms.unix;
   };
diff --git a/pkgs/tools/misc/time/max-resident.patch b/pkgs/tools/misc/time/max-resident.patch
deleted file mode 100644
index e593d833d5e..00000000000
--- a/pkgs/tools/misc/time/max-resident.patch
+++ /dev/null
@@ -1,16 +0,0 @@
-Fix the "max resident" size reported by ‘time’ being off by a factor of 4. 
-
-From http://lists.gnu.org/archive/html/help-gnu-utils/2010-10/msg00002.html
-
-diff -ru -x '*~' time-1.7-orig/time.c time-1.7/time.c
---- time-1.7-orig/time.c	1996-06-13 15:38:21.000000000 -0400
-+++ time-1.7/time.c	2011-10-31 10:40:27.000000000 -0400
-@@ -392,7 +392,7 @@
- 		       ptok ((UL) resp->ru.ru_ixrss) / MSEC_TO_TICKS (v));
- 	      break;
- 	    case 'M':		/* Maximum resident set size.  */
--	      fprintf (fp, "%lu", ptok ((UL) resp->ru.ru_maxrss));
-+              fprintf (fp, "%lu", (UL) resp->ru.ru_maxrss);
- 	      break;
- 	    case 'O':		/* Outputs.  */
- 	      fprintf (fp, "%ld", resp->ru.ru_oublock);