diff --git a/makefiles/ipatool.mk b/makefiles/ipatool.mk
index 5ea4a7c590..889c7a7f71 100644
--- a/makefiles/ipatool.mk
+++ b/makefiles/ipatool.mk
@@ -5,7 +5,7 @@ endif
 ifneq (,$(findstring darwin,$(MEMO_TARGET)))
 
 SUBPROJECTS     += ipatool
-IPATOOL_VERSION := 2.0.0
+IPATOOL_VERSION := 2.0.3
 DEB_IPATOOL_V   ?= $(IPATOOL_VERSION)
 
 ipatool-setup: setup
@@ -17,7 +17,7 @@ ipatool:
 	@echo "Using previously built ipatool."
 else
 ipatool: ipatool-setup
-	sed -e '3s|.*|VERSION="$(DEB_IPATOOL_V)"|' -i $(BUILD_WORK)/ipatool/tools/version.sh
+	sed -e '3s|=.*|="$(DEB_IPATOOL_V)"|' -i $(BUILD_WORK)/ipatool/tools/version.sh
 	cd $(BUILD_WORK)/ipatool && ./tools/version.sh
 	cd $(BUILD_WORK)/ipatool && $(DEFAULT_GOLANG_FLAGS) go build \
 		-trimpath \