There are three parts to any system based on I beacons.
One) there is a transmitter device, the IBeacon. All it does is transmit a tiny message over and over giving its device ID. Literally, that’s all it does. That’s why it is often compared to a lighthouse – – the lighthouse sends out its light whether there are ships in the area or not. It doesn’t know if the ships are there. It just keeps sending out the light.
The device that you linked to is an IBeacon, so it is going to transmit. Whether that’s going to be of any use to you will depend on the other two parts that you are using.
Two) there is a receiver device, typically a phone or tablet. It has an active Bluetooth radio that will receive the transmission from the IBeacon. But it’s just the receiver, on its own, it doesn’t do anything just because it received a message from the IBeacon.
Three) you need some kind of app that can recognize that the receiver device has received a transmission and then make a decision based on the ID of the message.
Most of the companies that make the transmitting Devices have their own apps that can do this.
Some have a full “SDK” ( software development kit) which is a set of programming tools for people who want to write their own receiving station app.
There are also some third-party receiving station apps that you can buy, although these are less common than they were two years ago because now many people write their own apps.
One way to integrate an Ibeacon with SmartThings is to use a receiving station app that can send a webhook (http post) based on the specific transmitter ID that it receives. You then set it up to send that webhook to the IFTTT maker channel. That allows you to use the IFTTT maker channel as the “if” in an IFTTT applet and to use the smartthings IFTTT channel as the “that” in the same applet. 
So as far as your question about whether that particular transmitter device will “work” it depends on what you are using for your receiver device and your receiving station app. It should work fine as a transmitter. But you still need the other two pieces, a receiver device ( typically a smartphone) and a receiving station app running on that phone.