diff --git a/Makefile b/Makefile
index c19154067..fb8591590 100644
--- a/Makefile
+++ b/Makefile
@@ -531,6 +531,7 @@ quiet_cmd_barebox_version = GEN     .version
 	  mv .version .old_version;			\
 	  expr 0$$(cat .old_version) + 1 >.version;	\
 	fi;						\
+	$(MAKE) $(build)=common
 
 # Check size of a file
 quiet_cmd_check_file_size = CHKSIZE $@
diff --git a/common/Makefile b/common/Makefile
index 76fe40739..bfde73cd4 100644
--- a/common/Makefile
+++ b/common/Makefile
@@ -81,3 +81,20 @@ include/generated/barebox_default_env.h: barebox_default_env$(barebox_default_en
 CLEAN_FILES += include/generated/barebox_default_env.h barebox_default_env
 CLEAN_FILES += barebox_default_env.gz barebox_default_env.bz2
 CLEAN_FILES += barebox_default_env.lzo
+
+# dependencies on generated files need to be listed explicitly
+$(obj)/version.o: include/generated/compile.h
+
+# compile.h changes depending on hostname, generation number, etc,
+# so we regenerate it always.
+# mkcompile_h will make sure to only update the
+# actual file if its content has changed.
+
+       chk_compile.h = :
+ quiet_chk_compile.h = echo '  CHK     $@'
+silent_chk_compile.h = :
+include/generated/compile.h: FORCE
+	@$($(quiet)chk_compile.h)
+	$(Q)$(CONFIG_SHELL) $(srctree)/scripts/mkcompile_h $@ \
+	"$(UTS_MACHINE)" "$(CC) $(KBUILD_CFLAGS)"
+
diff --git a/common/version.c b/common/version.c
index 0af8ec160..51a8e7c47 100644
--- a/common/version.c
+++ b/common/version.c
@@ -1,8 +1,10 @@
 #include <common.h>
+#include <generated/compile.h>
 #include <generated/utsrelease.h>
 
 const char version_string[] =
-	"barebox " UTS_RELEASE " (" __DATE__ " - " __TIME__ ")";
+	"barebox " UTS_RELEASE " " UTS_VERSION "\n";
+
 
 void barebox_banner (void)
 {
diff --git a/scripts/mkcompile_h b/scripts/mkcompile_h
new file mode 100755
index 000000000..1a80ef7c7
--- /dev/null
+++ b/scripts/mkcompile_h
@@ -0,0 +1,96 @@
+#!/bin/sh
+
+TARGET=$1
+ARCH=$2
+CC=$3
+
+vecho() { [ "${quiet}" = "silent_" ] || echo "$@" ; }
+
+# If compile.h exists already and we don't own autoconf.h
+# (i.e. we're not the same user who did make *config), don't
+# modify compile.h
+# So "sudo make install" won't change the "compiled by <user>"
+# do "compiled by root"
+
+if [ -r $TARGET -a ! -O include/generated/autoconf.h ]; then
+  vecho "  SKIPPED $TARGET"
+  exit 0
+fi
+
+# Do not expand names
+set -f
+
+# Fix the language to get consistent output
+LC_ALL=C
+export LC_ALL
+
+if [ -z "$KBUILD_BUILD_VERSION" ]; then
+	if [ -r .version ]; then
+		VERSION=`cat .version`
+	else
+		VERSION=0
+		echo 0 > .version
+	fi
+else
+	VERSION=$KBUILD_BUILD_VERSION
+fi
+
+if [ -z "$KBUILD_BUILD_TIMESTAMP" ]; then
+	TIMESTAMP=`date`
+else
+	TIMESTAMP=$KBUILD_BUILD_TIMESTAMP
+fi
+if test -z "$KBUILD_BUILD_USER"; then
+	BAREBOX_COMPILE_BY=$(whoami | sed 's/\\/\\\\/')
+else
+	BAREBOX_COMPILE_BY=$KBUILD_BUILD_USER
+fi
+if test -z "$KBUILD_BUILD_HOST"; then
+	BAREBOX_COMPILE_HOST=`hostname`
+else
+	BAREBOX_COMPILE_HOST=$KBUILD_BUILD_HOST
+fi
+
+UTS_VERSION="#$VERSION"
+CONFIG_FLAGS=""
+UTS_VERSION="$UTS_VERSION $CONFIG_FLAGS $TIMESTAMP"
+
+# Truncate to maximum length
+
+UTS_LEN=64
+UTS_TRUNCATE="cut -b -$UTS_LEN"
+
+# Generate a temporary compile.h
+
+( echo /\* This file is auto generated, version $VERSION \*/
+  if [ -n "$CONFIG_FLAGS" ] ; then echo "/* $CONFIG_FLAGS */"; fi
+
+  echo \#define UTS_MACHINE \"$ARCH\"
+
+  echo \#define UTS_VERSION \"`echo $UTS_VERSION | $UTS_TRUNCATE`\"
+
+  echo \#define BAREBOX_COMPILE_BY \"`echo $BAREBOX_COMPILE_BY | $UTS_TRUNCATE`\"
+  echo \#define BAREBOX_COMPILE_HOST \"`echo $BAREBOX_COMPILE_HOST | $UTS_TRUNCATE`\"
+
+  echo \#define BAREBOX_COMPILER \"`$CC -v 2>&1 | tail -n 1`\"
+) > .tmpcompile
+
+# Only replace the real compile.h if the new one is different,
+# in order to preserve the timestamp and avoid unnecessary
+# recompilations.
+# We don't consider the file changed if only the date/time changed.
+# A kernel config change will increase the generation number, thus
+# causing compile.h to be updated (including date/time) due to the
+# changed comment in the
+# first line.
+
+if [ -r $TARGET ] && \
+      grep -v 'UTS_VERSION' $TARGET > .tmpver.1 && \
+      grep -v 'UTS_VERSION' .tmpcompile > .tmpver.2 && \
+      cmp -s .tmpver.1 .tmpver.2; then
+   rm -f .tmpcompile
+else
+   vecho "  UPD     $TARGET"
+   mv -f .tmpcompile $TARGET
+fi
+rm -f .tmpver.1 .tmpver.2