The Boomers trailed at three quarter time by one point after a tough three periods of basketball, before the side rallied behind the likes of Joe Ingles, Brad Newley and Matthew Dellavedova, who all delivered big plays down the stretch.
The Boomers have put together a strong rebounding performance this morning, led by AJ Ogilvy's 10 boards, which helped steady the side defensively, facilitating their late offensive onslaught.
"We needed to rebound, and I thought that in the second half especially we were able to get stops and we'd rebound and run out of it," said head coach Brett Brown.
"This win was done by committee — everyone that came on contributed. The group's really responded to the defensive challenges that we've put on each other. We really take a lot of pride in the defensive side of the floor and to be able to hold a very deep, talented, veteran team to 69 points was just a great team effort," he said.
For the Aussies, Joe Ingles top-scored with 17 points, while Brad Newley added 14 points. Matthew Dellavedova finished with 12 points. For Serbia, Boston Celtics centre Nenad Krstic finished with 17 points, while Dusko Savanovic added 16 points.
"I think Matty Dellavedova has emerged to be a real important part of this team. I thought Matty Nielsen showed great leadership down the stretch and it was Joe Ingles' best game as a Boomer," said Brown.
"I think it's a great credit to the team coming in in great shape and being able to close the game out in the end. Their defense has been quite special the whole tournament. I think tonight was a real testament to their fitness. They did a great job of playing through a bunch of different situations to close out a very difficult game," he said.
Australian Boomers 78 (Ingles 17, Newley 14) def Serbia 69 (Krstic 17, Savanovic 16)