In a move sure to cause waves in the social media world, Twitter as acquired social analytics company BackType in a deal in which terms were not immediately disclosed.

On BackType's official blog, the deal was announced via a posting on Tuesday afternoon. As the analytics startup's announcement notes, BackType will be "bringing our team and technology to Twitter's platform team, where our focus will be developing tools for Twitter's publisher partners."

BackType's analytics software analyzes the potential impact of social media on branding and marketing decisions. According to TechCrunch, "the company assists more than 100 companies with their social media analytics, from The New York Times and Edelman to startups like Bitly, HubSpot, Hunch and SlideShare."

Software such as what BackType is providing may prove to be indispensable as social media becomes a more integral part of the internet as a whole. For instance, BackType's "BackTweets" application allows clients to "understand the reach of their tweets and content, who they are reaching, and how Tweets covert to web traffic, sales and other KPIs."

TechCrunch is reporting that BackType rose over $1 million in funding from Y Combinator, True Ventures, K9 Ventures, Freestyle Capital, Lowercase Capital, 500 Startups, Founder Collective, Raymond Tonsing, and others. As a result of today's developments the company plans on offering its BackTweets product to current users free of charge, but will be eventually discontinuing the original BackType dashboard.