The Virtual Modem
for the Internet

COM/IP is a software redirector which allows modem communication applications to use TCP/IP connections instead. Your applications talk to either a "Virtual Modem" or a "Virtual COM port" emulator, which redirects them to an IP address on any TCP/IP network. Your applications can both “dial” and “answer” modem (or serial) connections on your network or over the internet.

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Is there another application that can do this?

This is the only one I could find.

Thanks