Kumar,
One can consider TopBraid Composer Standard Edition to be a replacement for Protege as far as modeling tools go. TBC Maestro Edition has a lot of additional functionality for developing applications based on Semantic Web/Linked Data standards (web services, etc.) and is often used as an IDE for TopQuadrant's server products which include:
TopBraid EVN - for collaborative vocabulary development and use of these vocabularies for tagging documents, improving search, content navigation, etc.
TopBraid RDM - for governance of reference data and provisioning it to enterprise applications.
Both EVN and TDM could also be used for metadata management/data lineage.
TopBraid Insight - for federated query, accessing distributed data sources as if they were in one place.
TopBraid Live is the underlying application server all the above products are build on top of.
This is just a short summary, there is more on the website, as David suggested.
One could create services using TopBraid technologies such as SPIN, SWP and SPARQMotion faster and easier than using Jena and without having to use Java - higher level development more people could use. So, in some sense, one could consider it a "replacement", but it is a bit like comparing apples and oranges.
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