The story
History
Foundation and early growth
Servcorp was founded in Sydney in 1978 by Alfred Moufarrige. In 1986, the company introduced its first virtual office services enabling clients to access business addresses and administrative support without leasing physical office space. International expansion began in 1987 with establishment of centres in Asia and France, followed by opening in Japan in 1995. Servcorp was listed on the Australian Stock Exchange in 1999, the same year it opened offices in Shanghai, marking its entry into China.
2000–2014
In the early 2000, Servcorp extended its network through Europe, Asia, and the middle East. by 2003, the company employed more than 130 staff in Tokyo. It opened is first United Kingdom office in 2009 and its first United States office in 2010.
The company entered the Turkish market in 2010, later adding a second Istanbul office in 2011. In 2014, Servcorp opened a location in Beijing's Fortune Financial Center and signed a lease for office space in the One World Trade Center in New York City.
2015–2019
From 2015 onward, Servcorp focused on upgrading technology infrastructure and expanding in high-growth regions. in 2017, it announced plans to modernise its office systems and refurbish key sites. The company opened its first German office in Berlin in 2019.
In 2017, the Australian Competition & Consumer Commission (ACCC), a competition watchdog, alleged that the standard form contract used by Servcorp was unfair and pursued court action. In 2018, an Australian Federal Court declared that 12 terms in the standard contracts used Servcorp were unfair. As part of the outcome, Servcorp agreed to a compliance program for its Australian business and agreed to pay the ACCC's legal costs.
From Wikipedia’s article on Servcorp, shared under CC BY-SA 4.0.5