Nexon founders in Commander Group buy-back

Will be a privately held company

Nexon founders, Barry and Charles Assaf, announce today that they have entered into a definitive agreement with the Commander Group to reacquire ownership of the company they formed in 2001.

In June 2007, the Commander Group acquired Nexon Asia Pacific, however Commander recently announced the sale of its non-core assets and identified the Nexon business as part of this group.

Barry and Charles Assaf have taken this opportunity to buy-back the business, meaning that Nexon will once again become a privately held company.

Nexon managing director, Charles Assaf, said this will have positive ramifications for customers and partners.

"It will give us a great deal more freedom to be as strategic and determined as we have been in the past. We are committed to future growth and have immediate plans to further develop our marketing and communication strategy," he said.

"We are excited to launch the new Nexon. Whilst still preserving our business model that has successfully served our clients and partners for many years, we can now lead the business to dynamic growth. "

Nexon is an ICT integrator providing building blocks for turnkey solutions and has staff based in Sydney, Bathurst, Brisbane and Melbourne,

- with Sandra Rossi

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