This means more fonts would be available for developers to choose from. HTML 5, CSS3 and Web Fonts would provide a much better and richer experience to the users. Still Google would face some challenges as different browsers treat the download of web fonts differently.
Here’s what the Typekit team has to say –
We’re happy to announce that we’ve teamed up with Google to make webfonts ubiquitous and more accessible. Starting today, we’re making our Typekit font events an open source project called WebFont Loader. Now you can have complete control over how fonts are loaded and what happens when they’re rendered. You can download the code and use it however you like, or link directly to the latest version via the Google Ajax APIs.
Over the past few weeks, we’ve worked very closely with developers from Google to ensure the code is as broadly usable as possible. You can use WebFont Loader with fonts on your own server, links to the just-announced Google Webfont API, or any Typekit account. We’ve also made sure the code is modular, so other font hosting services can add to it in the future. You’ll find full documentation, examples, and information on how you can contribute at our GitHub repository.
Additionally, we’ll be supporting Google’s new collection of open source webfonts. We’ve just added these fonts to the Typekit library for all account levels, so switching between either service is as easy swapping a couple lines of code. Our goal is shared with Google: to make it as easy as possible for anyone to start using webfonts.