diff --git a/ansi2html/converter.py b/ansi2html/converter.py
index 221c8a1..a655f6b 100755
--- a/ansi2html/converter.py
+++ b/ansi2html/converter.py
@@ -176,13 +176,11 @@ def append_color_unless_default(output, color, default, negative, neg_css_class)
 
 
 def linkify(line, latex_mode):
-    for match in re.findall(r'https?:\/\/\S+', line):
-        if latex_mode:
-            line = line.replace(match, '\\url{%s}' % match)
-        else:
-            line = line.replace(match, '<a href="%s">%s</a>' % (match, match))
-
-    return line
+    url_matcher = re.compile('(https?://(?:[-\w.]|(?:%[\da-fA-F]{2}))+)')
+    if latex_mode:
+        return url_matcher.sub(r'\\url{\1}', line)
+    else:
+        return url_matcher.sub(r'<a href="\1">\1</a>', line)
 
 
 def _needs_extra_newline(text):