busybox-syslogd binary package in Ubuntu Precise i386

 The system log daemon is responsible for providing logging of
 messages received from programs and facilities on the local host as
 well as from remote hosts.
 .
 The kernel log daemon listens to kernel message sources and is
 responsible for prioritizing and processing operating system
 messages.
 .
 The busybox implementation of the syslogd is particular useful on
 embedded, diskless (netboot) or flash disk based systems because it
 can use a fixed size ring buffer for logging instead of saving logs
 to the disk or sending it to remote logging servers. The ring buffer
 can be read using the (also busybox based) command logread.
 .
 This package provides the glue to the busybox syslogd and klogd to be
 used in the system by providing the appropriate symbolic links and
 scripts.

Source package