Etherium and Zcash are combining to create zk-SNARKs.

According to a post on the Etherium forum from back in January, Etherium is collaborating with Zcash to enable users to have access to full privacy.

What is the main goal of this collaboration?

The main goal of this collaboration is to create a "direct decentralized exchange between Ethereum and Zcash" called zk-SNARKs or Project Alchemy. zk-SNARKs is a network that will allow users to use the Zcash protocol on top of the Etherium network.

Are there any other projects like this happening?

There are two other projects being worked on other than zk that I may explain in more detail in a future post.

1. Zrelay - An upgrade to the Etherium network to allow Etherium contracts to process the Zcash blockchain.
2. XCAT - A decentralized exchange for Zcash, Etherium and Bitcoin. Decentralized exchanges are harder to use but are basically impossible to hack, anonymous and YOU control the funds - unlike Poloniex in which you store your funds on their server and they have access to your money.

What does this mean for Etherium?

In my opinion, this is game changing technology and could see Etherium skyrocket even to the extent of passing Bitcoin.

These posts are 6 months old! Why are you posting now?

I have not seen many people talking about this but I was fortunate to find someone talking about it on the Hot Copper forum a few days ago and so I did my research and here I am sharing it with you guys.

Sources:
https://blog.ethereum.org/2017/01/19/update-integrating-zcash-ethereum/
https://forum.z.cash/t/there-are-three-different-flavors-of-project-alchemy/13963
https://hotcopper.com.au/threads/crypto-trading-2017.3465924/page-8#.WYegDoh9673

Edit: Somehow I didn't manage to see this on the front page of Etherium news before writing this article...