This paper presents the experiences of setting up a knowledge triangle project in the software development field as an approach to teaching in the area of information systems and information technologies. The case includes an international dimension of the IT industry as it interconnects several countries. The cooperation between company and university is a pedagogical tool for creating an educational situation which conveys motivation and broad perspectives to the student. However, this brings in a number of problems and a generally higher level of complexity. This paper explores a case that illustrates the complexities and presents a generic model of a setup for a knowledge-triangle-based educational situation. Its model adopts an increasingly important aspect of IT education, namely how to prepare students for the globalized nature of the IT industry. The final discussion focuses on issues concerning the use of knowledge triangle thinking, including complexity, measurements, pedagogy and organization.