The present study was conducted in Iran and aimed to analyze the relationships among technology acquisition & exploitation, organizational innovation, and organizational performance. We selected 80 knowledge-intensive organizations as statistical population of the study. Executive managers, senior managers, operational managers, and R&D managers of the companies were considered as appropriate respondents for this study. After the distribution of 320 questionnaires among the respondents, 280 usable questionnaires were gathered. The analysis was done utilizing Structural Equation Modeling (SEM) methodology by LISREL software. The factors analysis and the findings show that technology acquisition & exploitation has a significant positive influence on both organizational innovation and organizational performance. Further, organizational innovation has a significant positive impact on organizational performance.