Capture data on port?

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http://www.linuxquestions.org – I have a toshiba phone system that has a feature where it spits raw data and i can direct that data to a serial port on the toshiba phone system or to an IP/PORT the data is just ascii data - tells me calls that are made/time/etc I would like to setup an existing linux box to capture this data and store the data for me then later i can build reports based on that data (and for me a report could be just a few cat's/greps/etc so basic stuff) - but i can figure this out later. for now i would just like to GRAB the data on a port and dump it into a file (and recycle files every 24 hours) are there any built in utilities that can help me do this? (HowTos)