The app is available for any Sony Xperia device running Android 2.3 or later. The app will also work on any Sony Android tablet, and the new Xperia Tablets have the app pre-installed. Sony advises that you confirm your data plan supports tethering activity.
The functionality of the app could prove rather convenient, and more efficient than having your device blast-out a Wi-Fi hotspot signal. Those that check out the video below may find it reminiscent of BlackBerry Bridge, but lacking in the PIM and email mirroring. Aside from that, the performance appears to be pretty solid if you have good coverage.
source: Xperia Blog, Google Play