Google and Adobe are both huge companies that care about fonts. Google is a company that is all about the internet, and Adobe is increasingly focusing on the web as well. As such, it's no surprise that the two might find themselves paired up for an adventure in digital type that aims to make the internet (and everywhere else) a better place.
The two have teamed up to create a font for CJK languages (Chinese, Japanese, Korean) that spans nearly 64,000 glyphs. It's an undeniably incredible move.
As Tech Crunch notes, Adobe is releasing the font as Source Hans (fitting their traditional naming scheme for open-source fonts) while Google will be calling the font Noto Sans CJK. TC notes a point of confusion here, but Google already has a family called Noto Sans that is quite expansive, and Adobe has established its own naming scheme for open-source. The project may have a bigger impact if the two launched the font independent of their own branding, but it's easy to understand why they chose not to.
At any rate, the project has apparently been in development for more than four years, with obvious roadblocks including regional character variation, and - again - getting the font to simultaneously jibe with both Google's and Adobe's existing open-source offerings.
More impressive, the font has seven weights. It's easy to overlook the importance of the project, but releasing a CJK font family that is already so massively, hugely extensive is a huge step, providing designers with a ready-made, zero-cost solution for readable, open characters in these languages.