This paper examines knowledge brokering activities within university–industry relationships (UIRs), with a particular focus on the role of boundary actors in facilitating knowledge transfer, creation, and implementation. Drawing on a qualitative comparative case study of long-term collaborations between global industrial technology firms in the ICT sector and universities in Finland, the study highlights the critical importance of mutual understanding between partners. Specifically, boundary actors on both sides must possess a deep awareness of each other’s objectives, priorities, and organizational cultures to effectively support knowledge co-creation and utilization within UIRs. The cases underscore that boundary spanning is widely regarded as one of the most effective mechanisms for enabling knowledge brokering between academic and industrial institutions.