diff --git a/CHANGELOG.md b/CHANGELOG.md
index 638c22bd6..4b426ae4d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -8,6 +8,16 @@ and this repository adheres to [Semantic Versioning](https://semver.org/spec/v2.
 
 ## Unreleased
 
+## v1.27.0 - 2023-08-21
+
+### General
+
+- OpenTelemetry Java SDK has been updated to version 1.29.0.
+- OpenTelemetry Instrumentation for Java has been updated to version 1.29.0.
+- Micrometer dependency has been updated to version 1.11.3.
+- Protobuf dependency has been updated to version 3.24.0.
+- Grpc dependency has been updated to version 1.57.2.
+
 ## v1.26.0 - 2023-07-14
 
 ### General
diff --git a/README.md b/README.md
index 476a33123..7089d57ed 100644
--- a/README.md
+++ b/README.md
@@ -12,8 +12,8 @@
 
 <p align="center">
   <img alt="Stable" src="https://img.shields.io/badge/status-stable-informational?style=for-the-badge">
-  <a href="https://github.com/open-telemetry/opentelemetry-java-instrumentation/releases/tag/v1.28.0">
-    <img alt="OpenTelemetry Instrumentation for Java Version" src="https://img.shields.io/badge/otel-1.28.0-blueviolet?style=for-the-badge">
+  <a href="https://github.com/open-telemetry/opentelemetry-java-instrumentation/releases/tag/v1.29.0">
+    <img alt="OpenTelemetry Instrumentation for Java Version" src="https://img.shields.io/badge/otel-1.29.0-blueviolet?style=for-the-badge">
   </a>
   <a href="https://github.com/signalfx/gdi-specification/releases/tag/v1.5.0">
     <img alt="Splunk GDI specification" src="https://img.shields.io/badge/GDI-1.5.0-blueviolet?style=for-the-badge">
@@ -73,11 +73,6 @@ see [Migrate from the SignalFx Java Agent](https://quickdraw.splunk.com/redirect
 
 <!-- Comments, spacing, empty and new lines in the section below are intentional, please do not modify them! -->
 <!--DEV_DOCS_WARNING-->
-<!--DEV_DOCS_WARNING_START-->
-The following documentation refers to the in-development version of `splunk-otel-java`. Docs for the latest version ([v1.26.0](https://github.com/signalfx/splunk-otel-java/releases/latest)) can be found [here](https://github.com/signalfx/splunk-otel-java/blob/v1.26.0/README.md).
-
----
-<!--DEV_DOCS_WARNING_END-->
 
 ## Requirements
 
@@ -109,11 +104,11 @@ To extend the instrumentation with the OpenTelemetry Instrumentation for Java,
 you have to use a compatible API version.
 
 <!-- IMPORTANT: do not change comments or break those lines below -->
-The Splunk Distribution of OpenTelemetry Java version <!--SPLUNK_VERSION-->1.26.0<!--SPLUNK_VERSION--> is compatible
+The Splunk Distribution of OpenTelemetry Java version <!--SPLUNK_VERSION-->1.27.0<!--SPLUNK_VERSION--> is compatible
 with:
 
-* OpenTelemetry API version <!--OTEL_VERSION-->1.28.0<!--OTEL_VERSION-->
-* OpenTelemetry Instrumentation for Java version <!--OTEL_INSTRUMENTATION_VERSION-->1.28.0<!--OTEL_INSTRUMENTATION_VERSION-->
+* OpenTelemetry API version <!--OTEL_VERSION-->1.29.0<!--OTEL_VERSION-->
+* OpenTelemetry Instrumentation for Java version <!--OTEL_INSTRUMENTATION_VERSION-->1.29.0<!--OTEL_INSTRUMENTATION_VERSION-->
 * Micrometer version 1.11.0
 
 ## Snapshot builds
diff --git a/buildSrc/build.gradle.kts b/buildSrc/build.gradle.kts
index c96fc9511..9dcc1925f 100644
--- a/buildSrc/build.gradle.kts
+++ b/buildSrc/build.gradle.kts
@@ -41,7 +41,7 @@ dependencies {
   implementation(gradleApi())
 
   implementation("com.diffplug.spotless:spotless-plugin-gradle:6.20.0")
-  implementation("io.opentelemetry.instrumentation:gradle-plugins:1.29.0-alpha-SNAPSHOT")
+  implementation("io.opentelemetry.instrumentation:gradle-plugins:1.29.0-alpha")
 
   // keep these versions in sync with settings.gradle.kts
   implementation("gradle.plugin.com.github.johnrengelman:shadow:8.0.0")
diff --git a/dependencyManagement/build.gradle.kts b/dependencyManagement/build.gradle.kts
index ebe069f06..127914485 100644
--- a/dependencyManagement/build.gradle.kts
+++ b/dependencyManagement/build.gradle.kts
@@ -4,7 +4,7 @@ plugins {
 
 val otelVersion = "1.29.0"
 val otelAlphaVersion = otelVersion.replaceFirst("(-SNAPSHOT)?$".toRegex(), "-alpha$1")
-val otelInstrumentationVersion = "1.29.0-SNAPSHOT"
+val otelInstrumentationVersion = "1.29.0"
 val otelInstrumentationAlphaVersion =  otelInstrumentationVersion.replaceFirst("(-SNAPSHOT)?$".toRegex(), "-alpha$1")
 val otelContribAlphaVersion = "1.28.0-alpha"
 
diff --git a/deployments/cloudfoundry/buildpack/README.md b/deployments/cloudfoundry/buildpack/README.md
index faa809424..aaf50002b 100644
--- a/deployments/cloudfoundry/buildpack/README.md
+++ b/deployments/cloudfoundry/buildpack/README.md
@@ -40,7 +40,7 @@ If you want to use a specific version of the Java agent in your application, you
 environment variable before application deployment, either using `cf set-env` or the `manifest.yml` file:
 
 ```sh
-$ cf set-env SPLUNK_OTEL_JAVA_VERSION 1.26.0
+$ cf set-env SPLUNK_OTEL_JAVA_VERSION 1.27.0
 ```
 
 By default, the [latest](https://github.com/signalfx/splunk-otel-java/releases/latest) available agent version is used.
diff --git a/version.gradle.kts b/version.gradle.kts
index 3f61b687e..c3f07bdae 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,5 +1,5 @@
 // do NOT update that variable manually - it is managed by the pre/post release scripts
-val distroVersion = "1.27.0-SNAPSHOT"
+val distroVersion = "1.27.0"
 
 allprojects {
   version = distroVersion