Comtemporary firms need capability of acquiring external knowledge and internalizing it to cope with environmental fluctuation. The paper analyzes the impact of absorptive capacity, an ability to recognize and utilize external knowledge, on knowledge acquisition of the firm, and examines the role of trust in the knowledge acquisition process. Data were collected from 84 domestic companies that had adopted ERP packages. The results indicate that prior experiences of knowledge acquisition, communication mechanism, and conflict resolution mechanism affect knowledge acquisition positively. Among those independent variables, communication mechanism and conflict resolution mechanism significantly and positively related with trust. Trust is, in turn, positively associated with knowledge acquisition. Meanwhile, previous knowledge base and prior relationship with the knowledge provider do not affect knowledge acquisition. Further, the results provide evidence that trust plays a mediating role between other absorptive capacity factors and knowledge acquisition.