With hundreds of millions of users and log-ins each day, Facebook and Twitter have become hot spots for internet traffic. For Microsoft, which is losing ground in the web browser and search engine market, this new deal will bode well for their brand new search engine, Bing. The deal will allow certain aspects of Facebook profiles to be indexed, like status updates and wall messages. With Twitter, Microsoft is just refining its relationship with the service by making "tweet" search results rank-able or indexed by relevance. It would also make it so that links in tweets can be directly accessed through Bing search results. Yet this deal is not exclusive given that Google also has its own agreement with Twitter.
Not many details about the Facebook arrangement have been published- both due to the project's implementation sometime next year and Facebook having to redraft a new Privacy Policy for users. In the past, Facebook users have been very vocal about privacy issues and have forced Facebook to interact with users in shaping future privacy options. Privacy is less of an issue with Twitter given the nature of tweets... people sounding off on what they think and how they feel to the world without having to be a member of Twitter.
You can read more about this deal at MacWorld.com
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