diff --git a/package/pkg-generic.mk b/package/pkg-generic.mk
index d1a18117d..455bdf17d 100644
--- a/package/pkg-generic.mk
+++ b/package/pkg-generic.mk
@@ -322,17 +322,19 @@ $(2)_RAWNAME			=  $$(patsubst host-%,%,$(1))
 # sanitize the package version that is used in paths, directory and file names.
 # Forward slashes may appear in the package's version when pointing to a
 # version control system branch or tag, for example remotes/origin/1_10_stable.
+# Similar for spaces and colons (:) that may appear in date-based revisions for
+# CVS.
 ifndef $(2)_VERSION
  ifdef $(3)_VERSION
   $(2)_DL_VERSION := $$(strip $$($(3)_VERSION))
-  $(2)_VERSION := $$(subst /,_,$$(strip $$($(3)_VERSION)))
+  $(2)_VERSION := $$(call sanitize,$$($(3)_VERSION))
  else
   $(2)_VERSION = undefined
   $(2)_DL_VERSION = undefined
  endif
 else
   $(2)_DL_VERSION := $$(strip $$($(2)_VERSION))
-  $(2)_VERSION := $$(strip $$(subst /,_,$$($(2)_VERSION)))
+  $(2)_VERSION := $$(call sanitize,$$($(2)_VERSION))
 endif
 
 $(2)_BASE_NAME	=  $(1)-$$($(2)_VERSION)
diff --git a/package/pkg-utils.mk b/package/pkg-utils.mk
index 5a385f882..99a3c1e52 100644
--- a/package/pkg-utils.mk
+++ b/package/pkg-utils.mk
@@ -37,6 +37,11 @@ endef
 $(eval $(call caseconvert-helper,UPPERCASE,$(join $(addsuffix :,$([FROM])),$([TO]))))
 $(eval $(call caseconvert-helper,LOWERCASE,$(join $(addsuffix :,$([TO])),$([FROM]))))
 
+# Sanitize macro cleans up generic strings so it can be used as a filename
+# and in rules. Particularly useful for VCS version strings, that can contain
+# slashes, colons (OK in filenames but not in rules), and spaces.
+sanitize = $(subst $(space),_,$(subst :,_,$(subst /,_,$(strip $(1)))))
+
 #
 # Manipulation of .config files based on the Kconfig
 # infrastructure. Used by the BusyBox package, the Linux kernel